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Olive Rock Partners, New York-based Cerberus acquire stake in UAE healthcare provider

Olive Rock Partners, New York-based Cerberus acquire stake in UAE healthcare provider
UEMedical operates 21 hospitals and health facilities

UAE - Mubasher: Olive Rock Partners and an affiliate of New York-based Cerberus Capital Management (Cerberus) have acquired a stake in United Eastern Medical Services, Abu Dhabi-based healthcare provider.

Established in 2008, UEMedical operates 21 hospitals and health facilities, including Moorfields Eye Hospital UAE, a branch of Moorfields London, and HealthPlus Fertility, which is the largest in vitro fertilisation platform in Abu Dhabi, according to a press release on Wednesday.

The acquisition will enable UEMedical to provide services to existing and new patients by adding complementary service offerings and a broader geographical reach.

The Founding Partner of Olive Rock, Muhannad Qubbaj, said: "We are excited to partner with the UEMedical team and shareholders to further enhance the growth of this exceptional platform within Abu Dhabi and its neighboring Emirates as well as abroad, focusing initially on Saudi Arabia."

The Senior Managing Director of Cerberus, Gabriel Schulze, said: "UEMedical is a leading healthcare provider for the UAE supported by a world-class team. With an expanding focus on healthcare in the region, the Company is well-positioned to broaden its reach and provide its quality services to even more patients."