Move confirmed after Mubadala Investment Company, through its healthcare subsidiary, acquires Amana Healthcare
Gulf Capital has announced that it has successfully exited its investment in Amana Healthcare, the UAE’s largest provider of long-term care, medical rehabilitation and home healthcare.
Gulf Credit Partners made the announcement following a move by Mubadala Investment Company, through its healthcare subsidiary, to acquire Amana Healthcare.
Following the initial investment in 2014, which was used for growth capital, Gulf Credit Partners said it assisted Amana Healthcare in implementing strong corporate governance, securing additional financing from other lenders for further expansion, introducing best practices and strengthening its financial reporting.
Dr Karim El Solh, CEO of Gulf Capital, said: "Our team has enjoyed working and partnering with the talented team at Amana Healthcare, helping them achieve their growth strategy and unique position in the market.
"We are proud that Amana today has become the market leader in its category in the UAE. This exit reinforces Gulf Capital's track record of backing visionary entrepreneurs, providing them with growth capital and expertise and helping their companies become dominant market leaders.”
A spokesperson for Amana Healthcare added: “Gulf Capital was a committed business partner which invested time, money and expertise in this venture and was responsive to our commercial and operational needs.
"The investment from Gulf Capital expedited our plans to deliver best-in-class long-term medical care and post-acute rehabilitation to the people of the UAE... Gulf Capital’s contribution was crucial in taking our company to the next phase.”
Significant public and private investment continues to fuel tremendous growth of the UAE's healthcare industry.
Healthcare services are expected to continue to benefit from both the overall growth in healthcare spending, as well as the increasing preference of healthcare regulators towards high-quality, private providers for certain specialised services.