ABU DHABI and NEW YORK – June 8, 2021 – Olive Rock Partners (“Olive Rock”) and an affiliate of Cerberus Capital Management, L.P. (“Cerberus”) today announced they have acquired a stake in United Eastern Medical Services LLC (“UEMedical or the “Company”), a leading specialty healthcare provider based in Abu Dhabi.
UEMedical, founded in 2008, has built a premier healthcare delivery system in the United Arab Emirates (“UAE”) with 21 hospitals and health facilities. The Company operates Danat Al Emarat Hospital, a world-class women’s and children’s hospital, and Moorfields Eye Hospital UAE, a branch of Moorfields London. The Company also operates several specialty and family health centers as part of its HealthPlus network, including HealthPlus Fertility, which is the largest in vitro fertilization platform in Abu Dhabi.
With over 2,300 healthcare professionals, UEMedical serves more than 700,000 patients across its integrated healthcare network. Through its partnership with Oliver Rock and Cerberus, UEMedical will be well-positioned to serve existing and new patients through the addition of complementary service offerings and a broader geographical reach.
Muhannad Qubbaj, Founding Partner of Olive Rock, stated: “We are excited to partner with the UEMedical team and shareholders to further enhance the growth of this exceptional platform within Abu Dhabi and its neighboring Emirates as well as abroad, focusing initially on Saudi Arabia.” He also added: “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.”
Gabriel Schulze, Senior Managing Director of Cerberus, added: “UEMedical is a leading healthcare provider for the UAE supported by a world-class team. With an expanding focus on healthcare in the region, the Company is well-positioned to broaden its reach and provide its quality services to even more patients. We look forward to partnering with Olive Rock as we support UEMedical on its mission to deliver exceptional, patient-centric care.”
Abdullah Shahin, Founding Partner of Olive Rock, commented: “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 (ADGM) as a financial hub.”
Olive Rock and Cerberus were advised by Freshfields Bruckhaus Deringer.
About Olive Rock
Olive Rock Partners is an independent private equity firm based in the rapidly growing financial hub of Abu Dhabi Global Market. Olive Rock Partners will focus on strategically and tactically capitalizing on the evolving investment landscape in the Gulf Cooperation Council countries primarily. www.oliverockpartners.com
About Cerberus
Founded in 1992, Cerberus is a global leader in alternative investing with approximately $55 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.
About UEMedical
UEMedical is a premier healthcare delivery system in the UAE with 21 hospitals and health facilities. The Company operates Danat Al Emarat Hospital, a world-class women’s and children’s hospital, and Moorfields Eye Hospital UAE, a branch of Moorfields London. The Company also operates several specialty and family health centers, as part of its HealthPlus network, including HealthPlus Fertility which is the largest IVF platform in Abu Dhabi.
