We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 27 Aug 2012 12:28 PM

Font Size

- Aa +

S African firm buys Dubai’s biggest private healthcare group

Mediclinic completes remaining 49.63% purchase of Emirates Healthcare for US$224m

S African firm buys Dubai’s biggest private healthcare group
Mediclinic, South Africa’s second-biggest private healthcare operator, said it would fund the purchase via a equity and debt funding raised in Dubai via Standard Chartered.

A South African firm has completed the takeover of Emirates Healthcare Limited (EHL), Dubai’s biggest private healthcare provider, via the purchase of the remaining 49.63 percent stake in the company that it does not already own.

Mediclinic International bought the stake from General Electric (5.24 percent) and the Varkey Group (44.39 percent). The deal for both stakes is worth US$224m.

EHL has two hospitals - Welcare Hospital and The City Hospital - and eight operational clinics in Dubai. A ninth clinic will open later on this year.

The company employs around 1,900 staff and treats over 600,000 patients a year.

Mediclinic, South Africa’s second-biggest private healthcare operator, said it would fund the purchase via a equity and debt funding raised in Dubai via Standard Chartered.

The Dubai-based Varkey Group, which runs the GEMS Education network of schools, said that the move was in line with its strategy to focus on education.

“The decision by Varkey Group to exit its healthcare interest is only due to the Group’s strategic intent of continuing to focus and grow  its education business at a faster pace globally,”said CN Radhakrishnan, a senior director at the Varkey Group, in a press statement. 

Arabian Business: why we're going behind a paywall

For all the latest health tips & news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.