Mubasher: NMC Health on Monday said that it has acquired a 80% stake in Saudi Arabia’s Al Salam Medical Group at a value of $37 million.
The UAE-based healthcare provider also announced buying a 70% stake in Dubai-based CosmeSurge, which provides aesthetic medicine cosmetic surgeries, at a value of $170 million.
The cash takeover of CosmeSurge is expected to be completed in the first quarter of 2018.
CosmeSurge manages 17 clinics with 102-bed hospital, in addition to two undergoing clinics in the UAE.
“[CosmeSurge] has an enterprise value of $250 million and is expected to report a 2017 EBITDA of $20.5 million on revenue of $67 million,” Reuters reported, according to CosmeSurge’s statement.
While the buying of Al Salam Medical Group is forecast to be finalised during H1-18.
Al Salam Medical Group’s portfolio includes Ishbilia Medical Centre, Al Salam Medical Centre, and Al Salam Medical Hospital with a capacity of 100 beds.
Moreover, NMC has signed operations and management (O&M) agreements with Emirates Healthcare Group to manage its two hospital in Egypt.
