Amanat Holdings has spent US$232 million to acquire Cambridge Medical and Rehabilitation Centre (CMRC).
Despite being one of the Gulf Cooperation Council’s (GCC) largest investors in the healthcare and education sectors, the transaction is the Dubai-listed company’s first wholly-owned investment in a UAE-based healthcare provider.
CMRC, which provides post-acute care and rehabilitation in the UAE and Saudi Arabia, was previously owned by emerging market-focused private equity firm TVM Capital Healthcare.
The deal, which was funded through a combination of cash and leverage, brings Amanat’s assets to more than $815 million.
It also provides Amanat with the largest PAC platform in the region, according to Amanat chairman, Hamad Al Shamsi.
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