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.