Growing Integrated Healthcare Network Adds Region's Leading Long-Term Care and Rehabilitation Provider to Impressive Portfolio of Best-in-Class Assets
Mubadala Investment Company, through its healthcare investment team, Mubadala Healthcare, today announced the acquisition of Amana Healthcare, the region's leading provider of long-term care, specialized rehabilitation, and home healthcare services.
Amana Healthcare, founded in Abu Dhabi and U.S.-accredited, is the first healthcare provider in the Middle East to offer an integrated continuum-of-care to patients across the region. Amana Healthcare operates hospitals in Abu Dhabi and Al Ain and provides world-class services including long-term inpatient care for medically complex cases, inpatient rehabilitation, transitional care and clinical care in the home.
The acquisition of Amana Healthcare expands the Mubadala Healthcare Network, which currently includes Cleveland Clinic Abu Dhabi, Healthpoint, Imperial College London Diabetes Centre, National Reference Laboratory, Abu Dhabi Telemedicine and Capital Health Screening Centre. Mubadala Healthcare has plans for continued expansion to better serve an increasing number of domestic and international patients.
Mubadala's decision to acquire Amana Healthcare expands the Mubadala Healthcare Network's ability to serve the region's patients and their rehabilitation needs. Patients will now benefit from improved continuity of care and access to an integrated network of world-class services � from primary and acute care to post-acute and long-term care services.
Waleed Al Mokarrab Al Muhairi, Mubadala Deputy Group CEO and Chief Executive Officer, Alternative Investments & Infrastructure said: We are excited to enter the next phase of growth with Mubadala Healthcare and the acquisition of Amana Healthcare will drive innovation while expanding the continuum of care for the UAE market. This is the first investment by Mubadala Healthcare in a UAE-based health services company, and we will certainty continue to look for the right acquisition opportunities, both on a regional and international level, to further bolster our portfolio of healthcare assets.
Abdulla Abdul Aziz Al Shamsi, Head of Mubadala Healthcare, added: The acquisition of Amana Healthcare gives Mubadala's customers the benefit of extended continuum-of-care services, all of which contribute to our vision of a world-class integrated health system for the people in the UAE. The acquisition also validates the Emirate of Abu Dhabi's investment promotion strategy, under which the founders of Amana Healthcare developed an outstanding specialized healthcare provider that operates to the highest international standards.
Mark McGourty, CEO of Amana Healthcare, said: We are delighted that Mubadala has chosen to add Amana Healthcare to its stable of internationally-recognized providers. Amana Healthcare was established to set the standard for continuum-of-care services in the region with a focus on clinical excellence, compassion, and patient experience. Mubadala also provides an ideal platform for Amana Healthcare to expand its much-needed services throughout the UAE, across the Middle East, and beyond.
Latham Watkins and Allen & Overy supported the transaction as legal counsels, Bank of America Merrill Lynch as sell-side advisor, and Deloitte as tax and accounting advisors.
Source: Mubadala Development Company PJSC