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April 29, 2015

NMC Health to acquire two UAE-based healthcare service providers for $100m

Healthcare provider NMC Health has signed separate agreements to acquire two UAE-based healthcare service providers, Americare Group and Dr Sunny Healthcare Group, for an enterprise value of $100m.

Healthcare provider NMC Health has signed separate agreements to acquire two UAE-based healthcare service providers, Americare Group and Dr Sunny Healthcare Group, for an enterprise value of $100m.

NMC agreed to acquire 90% of the beneficial ownership of Americare Group for $33m and purchase 100% of the assets and business of Dr Sunny Healthcare for $64m.

NMC Health CEO Dr B R Shetty said: "We are excited to add home healthcare services to NMC’s service offering, further extending our presence along the care pathway, and to significantly grow our presence in Sharjah and the Northern Emirates.

"NMC agreed to acquire 90% of the beneficial ownership of Americare Group for $33m and purchase 100% of the assets and business of Dr Sunny Healthcare for $64m."

"We are continuing to execute on our strategy, and remain well-positioned to deliver further growth and value for our patients and shareholders."

Americare Group provides in-home healthcare services and operates a community-based physician practice, offering medical care for different conditions across all ages.

The group also includes a medical centre with an on-site pharmacy in the upmarket Khalidiya residential area of Abu Dhabi. It offers various specialties such as general medicine, gynaecology, obstetrics and plastic surgery.

Dr Sunny Healthcare Group includes six medical centres and three pharmacies in the Emirate of Sharjah.

This group provides specialties, including paediatrics, cardiology, neurology, internal medicine, general surgery, psychiatry, urology, GI, gynaecology, ENT, dermatology, ophthalmology, radiology, general practice, dental care, Ayurveda and, physiotherapy, as well as lab services.

Subject to customary terms and conditions, the deals are expected to be completed by the end of the third quarter of 2015.

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