Abu Dhabi – Mubasher: Abu Dhabi-based Gulf Capital on Tuesday announced that it has successfully exited its investment in Amana Healthcare, a leading provider of long-term care, specialized rehabilitation, and home healthcare services in the region.
Gulf Credit Partners, which manages Gulf Capital's funds, fully realised an early exit from its investment in Amana Healthcare after selling a controlling stake in the business to a strategic healthcare buyer, Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, said in a statement.
The UAE's alternative asset management firm didn't disclose any further details on the value of the stake.
“This exit reinforces Gulf Capital's track record of backing visionary entrepreneurs, providing them with growth capital and expertise and helping their companies become dominant market leaders,” Karim El Solh, CEO of Gulf Capital, commented.
After the initial investment in 2014, Credit Partners helped Amana Healthcare in implementing strong corporate governance, securing additional financing from other lenders for further expansion, introducing best practices and strengthening its financial reporting.
The partnership also has enabled Amana to improve its social and environmental monitoring and reporting according to the guidelines and Performance Standards of the International Finance Corporation (IFC), Gulf Capital added.
“Gulf Capital was a committed business partner which invested time, money and expertise in this venture and was responsive to our commercial and operational needs. The investment from Gulf Capital expedited our plans to deliver best-in-class long-term medical care and post-acute rehabilitation to the people of the UAE,” spokesperson for Amana Healthcare said.
