MUBADALA HEALTH ACQUIRES A CONTROLLING STAKE IN UEMEDICAL
Abu Dhabi, United Arab Emirates, 16th June 2021: Mubadala Health, the integrated healthcare network of Mubadala Investment Company, today announced the acquisition of a 60% stake in United Eastern Medical Services (UEMedical) from Jadwa Investment and United Eastern Group (UEG). UEMedical owns and operates multiple hospitals and clinics specializing in women’s health, family medicine, pediatrics, fertility, eye care, dentistry and dermatology in the UAE and KSA.
Through this acquisition, Mubadala Health adds Danat Al Emarat Hospital for Women & Children; the HealthPlus Network of Specialty Centers; HealthPlus Fertility, the largest IVF provider in the region; Moorfields Eye Hospital Abu Dhabi; and a stake in Al Meswak Dental Group to its network. The new services added to the Mubadala Health network include fertility & IVF, obstetrics, neonatology, and pediatric subspecialties.
Hasan Jasem Al Nowais, Chief Executive Officer of Mubadala Health, said: “Over the past decade, UEMedical has witnessed tremendous growth and success, operating facilities that have raised the bar in patient care across multiple specialties. This acquisition enhances Mubadala Health’s network in the UAE and the wider GCC region, while demonstrating our unwavering commitment to transforming the regional healthcare landscape by delivering a full range of healthcare services covering every phase of a patient’s life.”
Ahmed Ali Al-Shorafa Al-Hammadi, Managing Director of UEG, added: “As founders of UEMedical, we are proud of what UEMedical represents, and of our role in the evolution of the health sector through well-established accredited hospitals and clinics in various specialties. While it is not easy to exit what we have built, I believe Mubadala Health provides the best ecosystem to allow it to flourish. We wish Mubadala Health all the success in achieving their vision of a world-class healthcare ecosystem in the region.”
Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, commented: “Our acquisition of UEMedical in 2016 came following an extensive assessment that revealed high growth potential for specialized health services, especially in the women and children space. We worked closely with the management team to realize the company’s ambitious growth strategy in the UAE and Saudi Arabia. We are very proud of our partnership with UEMedical shareholders and management, and wish Mubadala Health and the management team continued success in capturing the next phase of growth.”
Majd Abu Zant, CEO of UEMedical, said: “We are delighted to join Mubadala Health’s network of world-class healthcare providers. This acquisition drives innovation and clinical excellence, while expanding the continuum of care across the UAE and Saudi markets as part of an integrated healthcare ecosystem. UEMedical has always been patient-centric and embraces international partnerships that advance our expertise and attract healthcare professionals of the highest caliber. This approach aligns perfectly with that of Mubadala Health, and we look forward to the next phase of our journey.”
The transaction is anticipated to close by September 2021. Mubadala Health’s network currently includes Cleveland Clinic Abu Dhabi, Healthpoint, Imperial College London Diabetes Centre, Amana Healthcare, National Reference Laboratory, Capital Health Screening Centre, and Abu Dhabi Telemedicine Centre. Following completion, Mubadala Health’s portfolio will include more than 10,000 world-class caregivers delivering 100+ service lines across 15 prominent healthcare providers in the UAE and KSA.