Mubadala Health takes 60% stake in UEMedical in push for regional expansion

Mubadala Health takes 60% stake in UEMedical in push for regional expansion

Mubadala Health, the healthcare unit of Abu Dhabi's sovereign investment fund Mubadala Investment Company, is acquiring a majority stake in United Eastern Medical Services (UEMedical), as it expands its portfolio of healthcare assets beyond the UAE.

The 60 per cent stake bought from Saudi Arabia's Jadwa Investment and UAE-based United Eastern Group will add multiple hospitals and clinics that are owned and operated by UEMedical in the UAE and Saudi Arabia to Mubadala Health's portfolio, Mubadala Health said in a statement on Wednesday.

The transaction is expected to close by September this year, it said without giving financial details of the deal.