Olive Rock Partners, an independent private equity firm based in the Emirati capital of Abu Dhabi, has announced an unspecified investment in healthcare company UEMedical, reports say.
The investment described by the firm as a “landmark deal” includes an affiliate of New York-based alternative asset firm Cerberus Capital Management.
“This is a landmark deal within a growing and attractive sector globally and we are very pleased to be working with Cerberus to support it,” said Muhannad Qubbaj, founding partner of Olive Rock.
“We are extremely pleased to have been able to attract foreign direct investments into the UAE medical sector as well as the Abu Dhabi Global Markets as a financial hub,” added Abdullah Shahin, another founding partner of Olive Rock.
Olive Rocks Partners investors also include Abu Dhabi Catalyst Partners, a joint venture between sovereign investor Mubadala Investment Company and Falcon Edge Capital.
UEMedical counts 2,300 healthcare professionals and serves more than 700,000 patients. It operates Danat Al Emarat Hospital and Moorfields Eye Hospital UAE, a branch of Moorfields London, Zawya reports.
Abu Dhabi-based Olive Rock Partners secures stakes in UEMedical
