UAE Investor Saeed Bin Butti Alqubaisi has acquired 40% stake in New Medical Centre through his company Centurion Investments for $1 billion.
NMC is a 36-year-old company with hospitals across the UAE and a pharmaceutical manufacturing facility in Abu Dhabi. Saeed Bin Butti Alqubaisi is the sole owner of Centurion Investments
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More details follows
Their Press Release
H.E. Mr. Saeed Bin Butti Alqubaisi today announced that he has acquired a significant stake in New Medical Centre LLC (NMC) through his company Centurion Investments of which he is the sole owner. H.E. Mr. Saeed Alqubaisi stated that the investment is based on the belief in the business model of NMC, the strong management and the company's proven track record.
NMC Chairman, H.E. Mr. Abdullah Al-Mazroei, and Managing Director, Dr. B. R. Shetty, welcomes the investment as Centurion Investments will be a strategic partner and of great value with regards to the planned expansion program for NMC.
The investment is of high importance to the healthcare sector, particularly as NMC is a leading provider in this field in the UAE. The investment will assist the company in attaining the goals outlined in the company's five year business plan which focuses heavily on the expansion program and is expected to add value to the company.
New Medical Centre (NMC) is a fully integrated major healthcare provider in the United Arab Emirates with prominent shareholders and proven management track record. Established in 1976, NMC's businesses have grown to include healthcare facilities including speciality hospitals, general hospitals and clinics; pharmacies; the trading and distribution of leading brands of pharmaceuticals, medical equipment; and information technology services related to the healthcare sector. Today NMC's healthcare business accounts for a significant portion of the healthcare sector across the United Arab Emirates.
WAM News Agency
Centurion Investment the Abu Dhabi headquartered investment company, today announced a 40% share acquisition of New Medical Centre (NMC) within UAE.
The signing ceremony of the partnership contract and acquisition held at NMC Abu Dhabi headquarter, during a press conference witnessed by Mr. Saeed Bin Buti Al Qubaisi, Centurion Investment's Chairman of the board of Directors, Abdullah Al Mazroui, NMC's Chairman of the Board, and Dr. Daber Shetty, Member of NMC Board of Directors and the Group Managing Director.
"The acquisition of 40% share of the New Medical Center (NMC) comes under the company's plans for investing in the medical sector", said Said Bin Buti Al Qubaisi, Centurion Investment Company's Chairman of board of directors. Al Qubaisi stated that the reason behind this investment is the values gained by the company through investing in the promising health and medical sectors in UAE. He also confirmed the efforts of the government in supporting and encouraging the private sector's companies to invest in several areas such as medical, education, services, and others.
"This deal comes under the Centurion Investment vision and strategic plan towards promoting NMC and enhance its position as the best medical group in the country", said Al Qubaisi, "With increasing number of hospitals and medical centers owned by the group, along with the group's expanding throughout the various medical specialties, as well as its vision to open more hospitals and medical centers in the Middle East, India, and North Africa, which mean that NMC will become a regional and international landmark" he added.
From the New Medical Center side, Abdulla Al Mazroui, Chairman of the Board of Directors, expressed his happiness and pride of this partnership "We aim by this partnership to expand the New Medical Center's work through opening more medical centers and hospitals within UAE along with the Middle East, South Africa, and India" Al Mazroui said "this partnership came in a perfect time, where the request for medical and health services is increasing, and now we are able to expand our activities and raise our potential to better levels by hiring more doctors and nurses from the different specialties, along with opening developed medical centers inside and outside UAE".
Dr. Daber Shetty, Member of the Board of Directors in the New Medical Center said "The new partnership between Centurion Investments and New Medical Center will certainly develop our business and expansion plans that we aim to achieve throughout opening a New Medical Centers inside and outside UAE".
"We are proud of this partnership with Centurion Investments, the important economic Emirati group, who look forward to enhance its presence within the promising local medical sector which acquires all the Government's support” he added. Dr. Shetty closed his talk by praising the government's support to all privet sectors’ companies, encouraging them to move towards the health sector, which will contribute in providing the finest medical services to the UAE citizens and residents.
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