Amanat announces the creation of the largest pan-GCC post-acute care provider

Amanat announces the creation of the largest pan-GCC post-acute care provider

- Amanat will own c. 85% of the post-merger entity which consists of c. 400 operational and c. 300 beds under expansion, across KSA and the UAE

- The merger is part of Amanat’s plan to expand CMRC from 256 beds at the time of acquisition to c. 1,000 beds within 3 years

Dubai | Amanat Holdings PJSC (“Amanat” or the “Company”), the leading healthcare and education listed investment company, today announces the creation of the largest pan-GCC post-acute care platform following the merger of Sukoon International Holding Company CJSC (“Sukoon”) with Cambridge Medical & Rehabilitation Center (“CMRC”) via a non-cash share swap, whereby the Sukoon shareholders will receive c.15% of Amanat’s shares in CMRC in return for Amanat receiving additional shares in Sukoon. The company has obtained the GAC approval on the transaction, remains subject to other regulatory approvals and transaction closing.

Commenting on the transaction, Amanat’s Chairman, Hamad Alshamsi said: “At the acquisition of CMRC we set out an ambitious strategy to expand to c. 1,000 pan-regional beds within 3 years and with today’s announcement we are delivering on this ambition. Post-merger the platform will operate c. 400 beds in the UAE and KSA across 4 cities (Abu Dhabi, Al-Ain, Dhahran,