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UAE based mostly healthcare and schooling funding firm Amanat has acquired a majority stake in Sukoon Worldwide Holding Firm, with goals to create the most important pan-GCC post-acute care platform.
Amanat stated in an announcement to the Dubai Monetary Market (DFM) that it’ll personal 85 per cent of the brand new entity following a merger of Sukoon with Cambridge Medical and Rehabilitation Centre (CMRC).
The merger is a part of Amanat’s plan to broaden CMRC from 256 beds to 1,000 beds in three years. Sukoon at present operates 130 post-acute beds in Jeddah, Saudi Arabia.
#Dubai based mostly @amanatholdings publicizes the creation of the most important pan-GCC post-acute care supplier because it acquires a majority stake in Sukoon. This can assist obtain Amanat’s goal to broaden capability to 1,000 beds inside 3 years. pic.twitter.com/jQfA5ts7hH
— Dubai Media Workplace (@DXBMediaOffice) December 19, 2022
A non-cash share swap will see Sukoon shareholders obtain 15 per cent of Amanat’s shares in CMRC in return for Amanat receiving further shares in Sukoon.
“On the acquisition of CMRC, we set out an formidable technique to broaden to c. 1,000 pan-regional beds inside three years and with as we speak’s announcement we’re delivering on this ambition,” stated Hamad Alshamsi, Amanat’s chairman.
Alshamsi stated the corporate will function round 400 beds within the UAE and Saudi Arabia, significantly in Abu Dhabi, Al-Ain, Dhahran and Jeddah, with a 300-bed growth underway, primarily in Saudi Arabia, and additional growth plans within the pipeline.
Amanat stated the corporate is now uniquely positioned to make the most of the 24,000 post-acute care mattress hole throughout Saudi Arabia and the UAE over the subsequent 4 years.
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