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AMANAT adds Cambridge Medical and Rehabilitation Center to its portfolioMENA

AMANAT adds Cambridge Medical and Rehabilitation Center to its portfolio

Healthcare and education-focused investment company AMANAT Holdings (AMANAT) bought Cambridge Medical and Rehabilitation Center (CMRC) from private equity firm TVM Capital Healthcare for $232m. CMRC is a post-acute care and rehabilitation (PAC) provider in the United Arab Emirates and Saudi Arabia.

AMANAT already has a similar company in its portfolio, Sukoon, which makes this a very strategic move for the holding firm towards expanding their PAC platform in the Gulf region — the “keep your friends close and your enemies closer” approach to competition.

AMANAT just recently reported a solid recovery in Q4 2020, with a total income of Dh70.6m (around $19.2m) for the full year. CMRC’s 2020 net profits weren’t bad either, hitting a record high of $15.2m. Sounds like their deal was a bloody good match, then.

why it matters
AMANAT is the GCC’s largest healthcare and education investment firm and this acquisition is one of the biggest healthcare deals in the region in recent years — so this news is quite a big deal!