Waha Capital buys stake in healthcare firm
Abu Dhabi, June 16, 2013
Abu Dhabi investment firm Waha Capital said on Sunday it had invested an undisclosed amount in a newly established healthcare group in the UAE through majority stakes purchased in some of its hospital and laboratory assets.
Waha, whose shareholders include Abu Dhabi government entities, said the investment in Dubai-based Anglo Arabian Healthcare (AAH) would help to support the healthcare firm's expansion plans in the next five years.
Healthcare businesses in the Gulf region are expected to boom in coming years as rising wealth couples with an increase in so-called lifestyle diseases - for example, five of the six Gulf Cooperation Council nations are in the global top 10 for prevalence of diabetes, according to the International Diabetes Federation.
AAH owns and operates 16 assets and employs over 300 people in hospitals, clinics, pharmacies and diagnostic centers across the UAE, Waha Capital said in a statement.
Under the deal, Waha bought majority stakes in the Sharjah Corniche Group, the Ajman-based Ibn Sina Group and Ibn Sina Hospital, and Proficiency Central Laboratories, which owns laboratories in Abu Dhabi and Sharjah.
Waha Capital owns stakes in companies such as New York-listed aircraft lessor AerCap Holdings and consumer finance company Dunia Finance. – Reuters
More Finance & Capital Market Stories
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit