Mubasher: Venture Capital Bank (VCBank) on Sunday sold its 69% stake in Royal Hospital for Women (RHW) for the UAE-based Amanat Holdings at a value of $39 million after developing it recently.

After finishing this exit deal, VCBank generated a 34% return, according to a statement.

“This successful transaction underscores the bank’s proven track record of providing shareholders and investors with innovative investments in high-growth non-cyclical sectors,” VCBank’s CEO Abdullatif Janahi stated.

The hospital will contribute to providing training and job opportunities as it is forecast to employ about 250 persons, of which 150 of them will be medical practitioners, Janahi added.

“RHW will focus initially on the provision of comprehensive maternity facilities extending to pre-natal and post-natal care, in addition to gynaecology,” the statement added.

The hospital will be the only private one in Bahrain that includes a neonatal intensive care unit (NICU).

On 19 August, Amanat Holdings announced acquiring a majority stake in the Bahraini healthcare facility.