(MENAFN) South African Mediclinic International has bought the remaining stake it does not already own in Emirates Healthcare Limited (EHL), Dubai's biggest private healthcare provider, Arabian Business reported.
EHL has two hospitals; Welcare Hospital and The City Hospital, and eight operational clinics in Dubai. A ninth clinic will open later on this year.
The company employs around 1,900 staff and treats over 600,000 patients a year.
Mediclinic, South Africa's No.2 private healthcare operator, said it would fund the purchase via a equity and debt funding raised in Dubai.
The transaction was completed through the purchase of General Electric's 5.24 percent stake in EHL and Varkey Group's 44.39 percent shareholding for a total of USD224 million.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.