Amanat Targets Stronger Saudi Market Engagement

Amanat Holdings is looking forward to a stronger entry into the Saudi, Emirates and Egyptian markets, for the next period, after it exited from ineffective shares of some companies, Amanat CEO Mohamad Hamade said.

The GCC’s largest healthcare and education investment company has announced that Saudi Healthcare and Education Fund completed the sale of its minority equity interest representing 13.13% of the shares in International Medical Center KSA “IMC” to a private investor for a total consideration of SR 443 million (AED 433 million) of the Emirates.

The said divestment has resulted in a total cash return of AED 100 million, including dividends, and is expected to report a gain from sale of AED 40 million.

The exit is in line with Amanat’s communicated strategy to exit minority investments, where the path to control is challenging or limited and focus on being influential shareholders.

The exit enables Amanat to pave the way forward towards more specialized opportunities in healthcare and education and to expand their platforms by building scale and synergies for future monetization.

He explained that this deal is the fourth deal for Amanat this year, as part of a restructuring process, so that the company could form investment platforms for expansion in the Arab Gulf and North Africa region.

Cambridge Medical and Rehabilitation Center (CMRC), a provider of specialized rehabilitation and long-term care, with facilities in Abu Dhabi and Al Ain in the Emirates, and Dhahran in Saudi Arabia. In addition to the Royal Hospital for Women and Children (RHWC), a world-class hospital for women and children located in .the Kingdom of Bahrain

He also said that the company was considering the acquisition of investment platforms in the health and education sectors with governing shares.