Mubadala Health, the healthcare unit of Abu Dhabi’s sovereign investment fund Mubadala Investment Company, acquired a 60 percent stake in United Eastern Medical Services (UEMedical), as it expands its portfolio of healthcare assets beyond the UAE. The stake has been acquired from Saudi Arabia’s Jadwa Investment and UAE-based United Eastern Group, and it will add multiple hospitals and clinics that are owned and operated by UEMedical in the UAE and Saudi Arabia.
Hasan Jasem Al Nowais, chief executive of Mubadala Health told the media, “This acquisition enhances Mubadala Health’s network in the UAE and the wider GCC region while demonstrating our unwavering commitment to transforming the regional healthcare landscape. Mubadala Health was established to transform the regional healthcare landscape.
“Today through our acquisition of United Eastern Medical, we have taken [a] monumental step in this direction. Our network of world-class healthcare providers is renowned for service excellence, and with this service line expansion, we can now support the healthcare needs of our patients through every phase of their lives.”
Because of this acquisition, Mubadala health will add names like Danat Al Emarat Hospital for Women & Children, the HealthPlus Network of Specialty Centres, HealthPlus Fertility, and Moorsfield eye hospital to its portfolio. Additionally, the company will also get a stake in Al Meswak Dental Group, the largest dental and dermatology network in Saudi Arabia.
After the completion of this deal, Mubadala health’s portfolio will have over 10,000 caregivers and 15 healthcare professionals in the UAE and Saudi Arabia. Additionally, this deal will add some new subspecialties like fertility and IVF obstetrics, neonatology, and pediatrics to its healthcare network. The latest acquisition will also give the company access to other emirates in the UAE.