Abu Dhabi’s International Holding Company (IHC) announced today a direct acquisition of a 15 percent stake in private healthcare group Burjeel Holdings.
The acquisition will aim to continue to scale and diversify IHC’s investment in the healthcare sector locally and regionally, which will create a thriving commercial ecosystem for the healthcare industry for the benefit of the broader community and shareholders.
IHC didn’t disclose a value for the acquisition.
Burjeel Holdings will operate nearly 60 assets catering to all socio-economic segments across a range of brands, including Burjeel Hospitals, Medeor Hospital, LLH Hospital, Lifecare Hospital, and Tajmeel.
In August, Burjeel Holdings, which owns and operates hospitals and other healthcare facilities, signed a memorandum of understanding (MoU) with the Saudi Ministry of Investment that includes working with local institutions. Under the deal, the company will invest up to 3.75 billion riyals ($1 billion) in the Kingdom by 2030.
Earlier this month, Alpha Dhabi Holding subsidiary, Pure Health, announced that it has entered into a definitive purchase agreement to acquire a minority equity investment in Ardent Health Services (Ardent), for a total investment of $500 million.