Abu Dhabi based healthcare firm NMC Health is close to completing a Dh2.1bn ($57m) deal for one of Sharjah’s most prestigious hospitals.
If the deal can be completed then the Al Zahra Hospital, which treated over 400,000 patients last year alone, will become the second most expensive acquisition in Gulf healthcare over the last ten years - second only to Centurion purchasing a 40% stake in NMC for over $1bn in early 2011.
According to ‘The National’, Al Zahra hospital generated a net income of over Dh140 million ($38m) last year, with this figure forecast to grow in the coming years as the country’s population continues to expand and age.
For NMC the deal would represent a successful end to a highly productive year. In August the company - which is one of the UAE’s largest healthcare providers - purchased a 70% stake in Saudi Arabia’s Al Khabor’s As Salama hospital, a stake that is estimated to have cost the company over $40 million, whilst it also started work on a 120 bed chronic care centre in Jeddah.
As well as this, NMC revealed plans in October to enter into the ever growing healthcare markets in neighbouring Qatar and Oman by early next year. Populations region wide are increasing and ageing at a rate not previously seen before, and NMC are hopeful that they will become major beneficiaries of this change in the area’s demographics.
Whilst the NHS continues to struggle with a lack of funding, poor conditions and understaffing the healthcare sector in the Middle East is growing and expanding at a remarkable rate. This is making it an ever more attractive option for Western trained medics looking for a more rewarding career.
If you believe that a move to the UAE, Saudi Arabia, Oman, Kuwait, Bahrain or Qatar is something which would enhance your career, register on our website for job alerts and start your journey today.