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June 15, 2015

NMC Health to acquire UAE-based medical care provider ProVita for $160m

NMC Health has signed an agreement to acquire UAE-based ProVita International Medical Centre from TVM Capital Healthcare Partners, Olayan Group, Al Zarooni Emirates Investment and other minority shareholders, for $160.6m.

NMC Health has signed an agreement to acquire UAE-based ProVita International Medical Centre from TVM Capital Healthcare Partners, Olayan Group, Al Zarooni Emirates Investment and other minority shareholders, for $160.6m.

ProVita, which provides long-term medical care in the UAE, has facilities in Abu Dhabi and Al Ain. It employs 400 doctors, therapists and nurses.

TVM Capital Healthcare Partners chairman Dr Helmut Schuehsler said: "Our investment in ProVita has closed an important gap in the UAE’s healthcare infrastructure and was the first of its kind in the Middle East.

"The excellent work of the centre’s talented management team, physicians, therapists and nurses has made a true difference to the quality of life of our patients and the social fabric of the community."

NMC Health operates 18 facilities in the UAE and one in Spain. With the addition of ProVita, the number will increase to 21.

"Through its facilities, ProVita provides acute, ventilated care and rehabilitative services to patients in the region."

Through its facilities, ProVita provides acute, ventilated care and rehabilitative services to patients in the region.

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ProVita established co-operation agreements with TVM’s other entities, including long-term care and rehabilitation provider Cambridge Medical & Rehabilitation Centre and home healthcare provider Manzil Health Care Service, to improve quality of services.

The deal is expected to be completed in the third quarter of 2015.

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

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