UAE - Mubasher: Mubadala Health, a subsidiary of Mubadala Investment Company (Mubadala), has acquired a 60% controlling stake in United Eastern Medical Services (UEMedical) to raise its healthcare services in the UAE and grow its operations in Saudi Arabia for the first time.
Mubadala Health has purchased a stake in UEMedical from Jadawa Investment and United Eastern Group (UEG), according to a press release on Wednesday.
The acquisition will enable Mubadala Health to expand its network by including leading healthcare providers such as Danat Al Emarat Hospital for Women & Children, Moorfields Eye Hospital Abu Dhabi, HealthPlus Network of Specialty Centres, and HealthPlus Fertility.
After completing the acquisition of UEMedical, the portfolio of Mubadala Health will have more than 100 service lines delivered by over 10,000 world-class caregivers across 118 locations.
The acquisition transaction is expected to be completed in September.