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FINANCIAL NEWS
UAE’s NMC Health to buy USD160m ProVita
16 Jun 2015
(MENAFN) The United Arab Emirates’ NMC Health is set to acquire ProVita International Medical Center, the leading healthcare provider, for about USD160.6 million, The Arabian Post reported.
ProVita presently runs more than 90 care beds in Abu Dhabi and Al Ain, in addition to 30 beds forecast to become fully operational in Abu Dhabi by this year’s third quarter.
The deal will support NMC with about 120 beds, increasing its licensed bed capacity of 720 to a total of 840 beds. Moreover, in the third quarter, ProVita enjoyed a net cash position of USD1.3 million.
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