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Sat 15 Sep 2018 01:07 PM

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UAE's Amanat eyes 'world class' hospital after $38m stake deal

Investment firm Amanat reveals big ambitions for Bahrain's Royal Maternity Hospital Holding after stake acquisition

UAE's Amanat eyes 'world class' hospital after $38m stake deal
Hamad Abdulla Alshamsi, chairman of Amanat.

Amanat Holdings, the GCC’s largest healthcare and education investment company, has pledged to provide "world class" services following its acquisition of a majority stake in a women's hospital in Bahrain.

The 69.3 percent stake in Bahrain's Royal Maternity Hospital Holding in a deal worth AED141.7 million ($38.6 million) takes Amanat’s total investments in assets to AED2 billion.

Amanat said in a statement that the hospital will be a medical centre of excellence specialising in the needs of women and children with a wide range of clinical services, including obstetrics, assisted conception, pre-natal and post-natal care and gynaecology.

It will also include an emergency monitoring unit and the only neonatal intensive care unit among Bahrain’s private hospitals.

Hamad Abdulla Alshamsi, chairman of Amanat, said: “We are excited about this acquisition and its growth potential, underpinned by the favourable macroeconomic environment, the improved healthcare coverage in Bahrain, the increase of private healthcare coverage and the unique and specialised service offering of the Royal Hospital for Women.

"This marks our seventh investment in total and our third healthcare investment since the establishment of Amanat. It reinforces our commitment to the region and our strategy to acquire majority or significant minority stakes in an aim to play a more active and collaborative role in our portfolio companies.”

Dr Shamsheer Vayalil, vice chairman and managing director of Amanat, added: “The acquisition of a majority stake in the Royal Hospital for Women in Bahrain marks another significant milestone for Amanat in the successful deployment of its paid-up capital.

"Following its launch, the Royal Hospital for Women in Bahrain is poised to operate as a world-class hospital with a vision to provide an exceptional patient experience and superior clinical care for women and children.

"We look forward to supporting the hospital in its delivery of trusted and valued care to patients and believe that given our expertise we are in a strong position to lead a wealth of initiatives and play an active role in driving the success of this story along with the other strategic partners.”

Amanat’s other investments include Middlesex University Dubai, Abu Dhabi University Holding Company, Taaleem Holdings, North London Collegiate School, International Medical Company and Sukoon International Holding.

Amanat Holdings earlier this month reported a net profit of AED27.9 million in the first half of 2018, up 12 percent over the same period last year.

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