Wednesday, September 30, 2020

UAE’s Cambridge Medical owner hires advisory deNovo for potential sale -sources – Reuters

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DUBAI, Sept six (Reuters) – The non-public fairness operator of Cambridge Healthcare and Rehabilitation Heart (CMRC), a extended-term care small business in the United Arab Emirates and Saudi Arabia, has employed company advisory agency deNovo for a opportunity sale of the company, a few sources common with the matter explained.

TVM Cash Healthcare, a Dubai-dependent non-public equity organization, is preparing an exit of its investment decision in CMRC in a offer valued at between $two hundred million and $300 million, two of the sources reported, declining to be named as the make any difference is not community. It created the investment decision in 2012.

Cambridge is one of the few speciality gamers in this sector and has possible to broaden as the will need for very long-expression care for growing older sufferers in the region grows, one of the people today familiar with the procedure mentioned.

A document was circulated by deNovo, a Dubai boutique advisory, to possible purchasers to gauge desire, one resource explained.

A third resource said CMRC experienced obtained potent desire from investors such as healthcare providers and other personal equity gamers from the region and outside the house.

TVM and CMRC did not immediately respond to a ask for for remark whilst deNovo declined to comment.

CMRC has amenities in Abu Dhabi and Al Ain in the UAE and Dhahran in Saudi Arabia, according to info on its internet site.

It supplies tailor-created treatment to people with limited and prolonged-time period rehabilitation requires, as very well as these with persistent health difficulties, in accordance to its website. (Reporting by Hadeel Al Sayegh and Saeed Azhar modifying by Jason Neely)

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