Amanat Holdings completes acquisition of majority stake in Sukoon through merger with CMRC

Amanat Holdings completes acquisition of majority stake in Sukoon through merger with CMRC

Dubai | Amanat Holdings PJSC (“Amanat” or the “Company”), the leading healthcare and education listed investment company, announces the completion of the acquisition of a majority stake in Sukoon International Holding Company CJSC (“Sukoon”) through a merger with Cambridge Medical & Rehabilitation Center (“CMRC”).

- Merger creates the largest pan-GCC post-acute care provider, with a target to deliver 1,000 pan regional beds in three years

- Merged entity is a core component of Amanat Healthcare, the new market-leading healthcare platform

- Amanat owns c. 85% of the post-merger entity

The merger, which was initially announced in December 2022, creates the largest pan-GCC post-acute care provider with c.400 operational beds and an additional c.300 bed expansion underway, across UAE and KSA. The merged entity is a core component of Amanat’s new market-leading healthcare platform, Amanat Healthcare, which consolidates Amanat’s portfolio of world class healthcare assets into a single platform.

The transaction was completed through a non-cash share swap, whereby certain of the Sukoon shareholders received c.15% of Amanat’s shares in CMRC in return for Amanat receiving additional shares in Sukoon. Following completion adjustments, Amanat will own c.85% of the post-merger entity.

Amanat’s Chairman, Hamad Alshamsi, said:

“The completion of the merger of Sukoon with CMRC marks an important