The acquisition will be aimed at further scaling and diversifying IHC's investments in the healthcare sector at the local and regional levels.
Abu Dhabi-based International Holding Company (IHC) has acquired a 15 percent stake in Burjeel Holdings. The acquisition will expand and diversify IHC's investments in the healthcare sector at the local and regional levels.
Syed Basar Shueb, CEO of IHC, said: “We still see a huge opportunity to invest in mission-oriented organizations like Burjeel Holdings. We are very pleased with Burjeel's progress in expanding its market position outside the UAE. Undoubtedly, this new acquisition will add great value to our powerful growth platform.”
Founded in 2007, Burjeel Holdings is one of the leading private healthcare providers in the UAE with a growing presence in the Gulf countries.
Dr. Shamshir Vayalil, CEO of Burjeel Holdings, said: “We are very pleased to join a solid organization with such a broad and complementary set of capabilities. IHC's presence on board has a strong strategic rationale for us, as it will have a transformative impact by adding new capabilities, personnel and access to new markets. This is an exciting time of growth for Burjeel Holdings.”
Burjeel Holdings will manage almost 60 assets serving all socio-economic segments under a range of brands, including Burjeel Hospital, Medeor Hospital, LLH Hospital, Lifecare Hospital and Tajmeel.
Its flagship institution, Burjeel Medical City, is the largest private hospital in the UAE and the only center accredited by ESMO. In addition, Burjeel Holdings unites the largest diagnostic network in the UAE and the largest comprehensive cancer center in the country. The newly established holding company also unites under its auspices the largest orthopedic practice and the leading provider of maternal and child care services in the UAE.
As for other developments, Burjeel Holdings has signed a memorandum of understanding (MoU) with the Saudi Arabian Ministry of Investment. According to the agreement, the private medical group will cooperate with institutes and healthcare organizations and invest up to $1 billion in the kingdom by 2030.