GFH Financial Group announced the acquisition of a 60 percent stake in the UAE-based multi-speciality healthcare partner holding (MSH) for more than $100 million, according to media reports. MSH is the only diversified healthcare chain present in Abu Dhabi and Al Ain and is one of the few in the UAE with 19 healthcare clinics along with two pharmacies spread across Al Ain, Abu Dhabi, Sharjah and Dubai.
It primarily focuses on diverse and rapidly-growing segments of the healthcare industry like dental centres, beauty care centres, dental laboratories, primary medical centres, woman-care centres and outpatient paediatric rehabilitation centres.
Sameer Azam, Director of Private Equity at GFH told the media, “With healthcare a high priority investment area for the UAE government and the rollout of ‘Mandatory Health Insurance’ in-country, MSH is well-positioned to further expand its already broad and well-diversified healthcare offering.”
MSH’s clinics are strategically placed so that they are close to its multi-speciality centres, along with its secondary clinic, which offers a limited set of services, directing the patients that need more intensive care to its core treatment hubs.
The investment will be managed by GFH’s healthcare arm, Healian, a regionally focused platform that invests in high quality but affordable healthcare assets primarily in the underpenetrated segment of the sector.
With the help of Healian, GFH aims to build its portfolio of blue-chip regional healthcare providers. Its strategy primarily focuses on buying building and consolidating healthcare businesses, like MSH along with expanding its presence and activities in main cities in the GCC with high margin and high growth healthcare businesses.