RIYADH: International Holding Co. has purchased a 15 percent stake in Burjeel Holdings, which is planning to go public this year in Abu Dhabi, Bloomberg reported.
“The acquisition will aim to continue to scale and diversify IHC’s investment in the healthcare sector locally and regionally,” the firm said in a statement.
IHC is the largest company in the UAE by market value and is led by Sheikh Tahnoon Bin Zayed Al Nahyan, the UAE's national security adviser and the brother of the country’s president.
Burjeel’s owner VPS Healthcare LLC is seeking support for its initial public offering from sovereign and pension funds.
Founded in 2007, Burjeel operates 61 assets in the UAE and Oman, including hospitals and medical centers.
The healthcare provider plans to invest $1 billion in Saudi Arabia by 2030 through joint ventures and public-private partnerships.
