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Saudi Jadwa appoints HSBC to advise on exiting UEMedical

Saudi Jadwa appoints HSBC to advise on exiting UEMedical
Jadwa acquired a stake in UEMedical in 2016.

Riyadh – Mubasher: Saudi Arabia’s Jadwa Investment's private equity arm has hired HSBC to advise on the sale of its stake in Abu Dhabi healthcare group United Eastern Medical Services (UEMedical), Reuters reported on Tuesday citing two sources familiar with the matter.

Jadwa, which has a 42% holding, considers selling the stake either through an outright sale or an initial public offering (IPO).

The business is said to be worth around $800 million, according to the sources.

UEMedical is specialised in women's, fertility and children's healthcare and has a network of premium health centres across Abu Dhabi.

In 2016, Jadwa took over a stake in UEMedical through its Healthcare Opportunities Fund 2.