Bahrain

 

Aster DM GCC sale nearly complete

The sale of the GCC division of Dubai-based listed hospital and pharmacy chain Aster DM, for just over $1bn, is nearly complete.
March 21, 2024

Aster DM sells majority stake in Gulf business for $1bn

Dubai-based listed hospital and pharmacy chain Aster DM is selling a majority 65% stake in its Gulf business for a shade over $1bn to a consortium led by PE investor Fajr Capital. HBI investigates the thinking behind the deal, what this means for the group's expansion plans, and looks at the future of the GCC market generally with the help of expert commentary. 
December 1, 2023

Interview: Howard Podolsky, Group CEO, Cambridge Medical

Last week, Amanat Holdings announced the return of Howard Podolsky to Cambridge Medical Rehabilitation Center. HBI caught up with the ‘new’ group CEO to hear about current challenges and opportunities in the Middle East and what is different this time around.
October 6, 2023

Aster DM set to sell GCC business

Listed hospital group Aster DM’s share price has rocketed in anticipation as the group’s long-awaited sale in the Gulf looms closer.
September 8, 2023

HBI 2022: Balance of power in MENA is shifting

There is a risk, when looking at healthcare markets in MENA, of lumping all the countries together as one - but each market has very specific requirements, and very specific characteristics. A panel at HBI 2022 chaired by Hamid Yunis, partner at global law firm McDermott Will & Emery, investigated challenges and opportunities in the region - and how rapidly the markets are changing and why overseas players now need to work harder to impress.
July 1, 2022

Interview: Dr Mohamad Hamade, CEO, Amanat Holdings

Dubai-based investment firm Amanat Holdings has managed to almost double its share price over the past 18 months. CEO Dr. Mohamad Hamade shares the secrets behind this success with HBI and talks strategy as the group develops what he calls MENA's first post-acute care platform.
August 19, 2021

GCC hospital markets at a crossroads

Change is afoot for private hospital operators in the GCC with mandatory insurance rollouts and private sector-friendly reforms offset by squeezed margins and an exodus of foreign nationals. More big US non-profits have followed in the footsteps of their peers Cleveland and Mayo and investors are pouring money into new developments in some markets - but steering well clear of others. Here is our round-up after several weeks interviewing local sources for HBI Intelligence. 
August 5, 2021

GCC hospital markets: not for the faint-hearted

The GCC's private hospital sector had a highly volatile second half of the 2010s despite being the target of huge foreign investments in the first. Public data shows huge fluctuations in annual growth in 2014-2019 across Bahrain, Qatar, Kuwait and Dubai, UAE.
July 29, 2021

GCC post-acute group sells for 10.5x as M&A climate cools

TVM Capital Healthcare has sold the GCC's largest post-acute/rehab provider Cambridge Medical and Rehabilitation Center (CMRC) to investor Amanat Holdings for 10.5x its 2020 EBITDA, a much lower multiple than it got for similar business Provita six years ago. We discuss the change in M&A climate with TVM CEO Dr Helmut Schuehsler and talk to Amanat's CFO about its plans with CMRC and its three other healthcare assets.
March 4, 2021
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