NMC Health buys Sharjah’s Al Zahra Hospital for $560 mln
Acquisition will come up for shareholder approval at London meeting on December 29
NMC Health, UAE-based healthcare provider, is acquiring Al Zahra Hospital in Sharjah for $560 million (Dh2.05 billion).
Al Zahra Hospital in Sharjah, the first and the largest private general hospital in the UAE,. was established in 1981 by Gulf Medical Projects Company (GMPC).
The deal has been finalized and the takeover of the privately owned Sharjah-based hospital will be in the first quarter of 2017, NMC's deputy chief executive Prasanth Manghat was quoted by Reuters in Dubai on Wednesday.
The acquisition will come up for NMC Health shareholder approval at a General Meeting which is taking place in London on December 29.
The addition of Al Zahra Hospital in Sharjah will complement NMC Health group’s existing network of seven out-patient medical centers in the emirate.