Abu Dhabi – Mubasher: International Holding Company (IHC) has decided to acquire 15% equity in Burjeel Holdings through one of its subsidiaries, according to a bourse disclosure.

The acquisition, which is one of the biggest deals in the Gulf’s healthcare sector in recent years, comes in line with IHC’s objective to diversify its investment in the healthcare sector locally and regionally.

Subject to regulatory approvals, the transaction will boost the commercial ecosystem of the healthcare industry to benefit the broader community and shareholders.

Syed BasarShueb, CEO of IHC, said: "We are very pleased with Burjeel's progress in expanding its market positions beyond the UAE. Undoubtedly, this new acquisition will add great value to our strong growth platform."

Shamsheer Vayalil, CEO of Burjeel Holdings, noted: "Having IHC onboard has a solid strategic rationale for us, as it will have a transformative impact through the addition of new capabilities, capital, and access to new markets."

Founded in 2007, Burjeel Holdings is a private healthcare services provider in the UAE which aims to operate nearly 60 assets catering to all socio-economic segments.

During the first half (H1) of 2022, IHC generated AED 4.41 billion in net profit attributable to the owners, compared to AED 2.61 billion in the year-ago period.