Mohammed-Ali-Al-Shorafa-Al-Hammadi

Abu Dhabi firm acquires Saudi dental group in $136m deal

Abu Dhabi-based United Eastern Medical Services (UEMedical) has acquired a controlling stake in Al Muhaideb Dental Clinics Group.

In a deal worth $136 million (AED500m), UEMedical increased its asset to $812m (AED3bn), adding to its portfolio that also includes Danat Al Emarat Hospital for Women & Children Hospital, Moorfields Eye Hospital Abu Dhabi. The firm also owns HealthPlus Network of Specialty Centres.

Established in 2000, Al Muhaideb Dental Clinics Group includes 46 Dental centres – in Riyadh, Jeddah, Abha, Mecca and Al Qassim – providing care for over 500,000 patients annually with 1,417 healthcare professionals employed.

Mohammed Ali Al Shorafa Al Hammadi, CEO and managing director of UEMedical, said the acquisition is line with the company’s strategy and expansion plans regionally.

“This step is part of the group’s strategy to spread its expertise to neighbouring countries and to diversify the range of specialized services the group provides to the community in the UAE and in the GCC,” he said.

“As we further extend our geographic footprint in UAE and the region, our strategic plans include expanding our existing facilities, establishing new facilities; and acquiring facilities that widen our spectrum of services, working with key players in the region,” he added.

Al Shorafa said UEMedical plans to open a HealthPlus fertility centre in Jeddah this June, and another centre in Riyadh.

“We will also acquire more medical centres in Saudi Arabia over the next few months,” he said.

Original news can be found at: arabianbusiness.com