UAE-based Amanat Holdings acquires majority stake in Sukoon via merger with CMRC

UAE-based Amanat Holdings acquires majority stake in Sukoon via merger with CMRC

Amanat Holdings, the UAE-based healthcare and education listed investment company, has acquired a majority stake in Sukoon International Holding Company through a merger with Cambridge Medical & Rehabilitation Center (CMRC). The , 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 Saudi Arabia. The merged entity is a core component of Amanat’s new market-leading healthcare platform, Amanat Healthcare, which consolidates Amanat Holdings’ portfolio of 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 per cent of Amanat’s shares in CMRC in return for Amanat receiving additional shares in Sukoon. Following completion adjustments, Amanat will own c.85 per cent of the post-merger entity. Amanat’s chairman, Hamad Alshamsi, said: “The completion of the merger of Sukoon with CMRC marks an important milestone in Amanat’s strategy to realise shareholder value through active portfolio management. The merger, which creates the largest post-acute care provider in the GCC, places Amanat in a strong position to benefit from the significant post-acute care bed gap across Saudi Arabia and the UAE. “The merged entity