NMC Healthcare group (“NMC”), a leading integrated private healthcare provider in the United Arab Emirates (“UAE”), announces that they have entered into a legally binding agreement to sell its 65% stake in Fakih IVF Fertility Centre (“Fakih IVF”) to Blue Ocean Health Group (“Blue Ocean”). The transaction is subject to customary closing conditions and is expected to be completed within the next two months. The financial terms of the transaction are not being disclosed. Upon completion, Blue Ocean will wholly own Fakih IVF.
This transaction is part of NMC’s strategy to further invest in the expansion of its core multi-specialty healthcare services, including the enhancement of existing facilities and the strategic growth across Dubai and the Northern Emirates. Upcoming projects include the opening of four new medical facilities this year, including a new pediatric medical center in the densely populated Marina area of Dubai, as well as a new multi-specialty medical center in Palm Jumeirah, scheduled to open this summer. The proceeds from the sale of Fakih IVF will help to facilitate these growth initiatives.
David Hadley, CEO of NMC Healthcare, stated: “NMC’s core purpose is to provide personalised, multi-specialty, and highly accessible healthcare services to all communities across the UAE. This strategic sale enables us to focus on expanding our comprehensive secondary and tertiary services and clinical facilities, including significant investments in Dubai and the Northern Emirates”. He continued, “Blue Ocean Health Group and Fakih IVF have been excellent partners to us and are well-positioned to continue growing their important, specialist work in the fertility sector. We are grateful for their collaboration and their impact.”
Fakih IVF, the market leader in fertility services in the GCC region, views this transaction as an opportunity to enhance its footprint and presence within the UAE and GCC region.
Dr. Michael Fakih, Executive Chairman of Blue Ocean Health, and Founder, Chairman, and Medical Director of Fakih IVF, said: “Bringing Fakih IVF fully under the Blue Ocean Health Group umbrella marks an exciting new chapter for us. This acquisition provides the opportunity to further enhance our services and expand our reach, solidifying our position as the lead provider of fertility services in the region.” He continued, “We have ambitious investment plans for the coming years, which include expanding our footprint, enhancing the infrastructure of our current facilities, expanding the range of medical services offered, and introducing advanced training programs for our medical teams. Additionally, we are committed to investing in scientific research to foster innovation in fertility treatment technologies. We appreciate NMC’s partnership over the years and look forward to continuing to build on the strong foundation we have established together.”
NMC is one of the largest private healthcare providers in the UAE and has played an integral part in providing comprehensive healthcare services in the UAE since 1975. Its national network of 78 hospitals and medical facilities makes it the only healthcare group uniquely positioned to serve the three most populous Emirates of Abu Dhabi, Dubai and Sharjah, as well as the Northern Emirates of Ras Al Khaimah and Ajman. NMC serves over 5.5 million patients every year.
