The GCC healthcare sector is expected to grow at a compound annual growth rate of 6.7 per cent by 2022/iStock
by Kudakwashe MuzoriwaDubai-based Amanat Holdings, one of the region’s largest healthcare and education investment company, is weighing a potential acquisition of a stake in VPS Healthcare’s Middle East operations.
Amanat is seeking to grow its health-care portfolio in the Middle East as the GCC healthcare sector is expected to grow at a compound annual growth rate of 6.7 per cent by 2022. Government healthcare spending is expected to rise to $30.5 billion by 2021 from $2.4 billion in 2016.
In a statement, Amanat said that the transaction is still at an early stage and it is subject to commercial and business due diligence as well as internal and regulatory approvals.
Amanat has investments in hospitals and schools in Saudi Arabia and the UAE and the firm appointed Tristan de Boysson as Chief Executive Officer in 2019.
VPS Healthcare was founded in 2007 by Dr. Shamsheer Vayalil and it is one of the largest private healthcare service provider in the UAE with a growing foothold in Oman.
MOST READ
INVESTMENT
India seizes Yes Bank, limits withdrawalsINVESTMENT
ING Groep plans to sell its Turkish unitINVESTMENT
SABB seeks to boost corporate lendingINVESTMENT
UBS launches new private client programINVESTMENT
Egypt plans to resume IPOs of parastatalsINVESTMENT
HSBC considering exiting from TurkeyINVESTMENT
Zimbabwe turns to UAE to sell a stake in...INVESTMENT
Dubai's DP World buys 44 per cent stake in...INVESTMENT
ADIA plans to sell a $2 billion stake in...INVESTMENT
Abu Dhabi’s Group 42 acquires BayanatINVESTMENT
HSBC commences sale of French retail businessINVESTMENT
ACWA Power expands operations into AzerbaijanINVESTMENT
UBS restructures EMEA wealth management unitINVESTMENT
Goldman Sachs 1MDB case moved to higher courtINVESTMENT
Mashreq, Zoho partner to enhance SME banking
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
