The GCC healthcare sector is expected to grow at a compound annual growth rate of 6.7 per cent by 2022/iStockby Kudakwashe Muzoriwa
Dubai-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.