Investcorp announces the construction of a new landmark hospital complex on Reem Island, Abu Dhabi, UAE.
A state of the art International Rehabilitation Centre, Children’s & Women’s Hospital and Walk-In Family Medical Clinic to open at the end of 2019
ABU DHABI, United Arab Emirates, April 30, 2018 /PRNewswire/ -- Investcorp, a global provider and manager of alternative investment products together with VAMED, a leading global provider of rehabilitation and other services for hospitals and promoter of the project Blue Apple Partners announces today the construction of a new landmark hospital complex on Reem Island, Abu Dhabi, UAE. The complex comprises a modern and highly specialised Rehabilitation Centre combined with a Children’s & Women’s Hospital and a Family Medical Centre.
This is Investcorp’s third healthcare deal which comes on the heels of the announcement of the launch of Investcorp’s healthcare fund earlier this year.
Building on Investcorp’s extensive investment capabilities in the Gulf region, Vamed’s deep operational expertise and Blue Apple’s local market expertise, the first phase of the hospital will consist of a 100+ bed Rehabilitation Centre targeted to open at the end of 2019, and which will aim to provide the highest standards in orthopaedic, cardiovascular, neurological, and oncological post-acute treatments and care for both in-patients and out-patients, using cutting edge rehabilitation approaches and technologies. It will be built and operated by VAMED, the leading global provider of development, design and operational management services for hospitals.
The second phase of the hospital will be a 100+ bed Children’s & Women’s Hospital, providing a full range of general and specialised paediatric surgery and treatments, as well as comprehensive gynaecology and obstetrics services supported by a Neonatal Intensive Care Unit. This facility will be operated by VAMED in cooperation with Charité from Berlin, Germany, one of the leading university hospitals in Europe.
An additional and essential feature of the overall development project will be a sizeable Family Medical Centre, which is also expected to open by the end of 2019, staffed by experienced family doctors providing holistic preventative care as well as all ambulatory healthcare services addressing family health planning and urgent care especially for children and women.
Mohammed Alardhi, Executive Chairman of Investcorp, said: “Investcorp has always kept a close eye on the healthcare sector in the Gulf. We are aware of the growing demand for quality healthcare in the region and are keen to play a key role in its development in the short and long term. We are particularly proud to be part of this project in Abu Dhabi, where we have deep roots and strong ties as a firm. Our investment strategy and commitment to the healthcare sector is in line with the UAE National Agenda and long-term economic plans, under its Vision 2021. We are excited about this project and the growth potential of this sector as a whole.”
Co-founder of Blue Apple Partners, promoter of the project and Chairman Eng. Zaid Daoud Al Siksek, former CEO of the Health Authority of Abu Dhabi, stated: “Al Reem Hospital and Rehabilitation Centre represents an essential building block of Abu Dhabi’s Vision 2030. It will provide the full spectrum of integrated primary, secondary and tertiary care in specialised rehabilitation services and gynaecology, obstetrics & paediatrics, areas where there are currently still significant shortages and ensure that Abu Dhabi is ready to meet the needs of its growing population.”
The project is backed by an international consortium of investors led by Investcorp, and highlights the ability of Abu Dhabi to attract foreign direct investment supported by the government’s policies to encourage private sector participation. Supply of quality healthcare in the Gulf region still lags behind international standards and there is a significant gap of available and high quality rehabilitation facilities in the UAE.
Andrea Raffaseder, member of the VAMED executive board, commented: “We are delighted to bring a world-class specialised facility to the Emirate of Abu Dhabi, the UAE, and the region as a whole. VAMED`S international expertise in designing and constructing hospitals will provide clinical excellence in a patient-focused environment.”
Gottfried Koos, member of the VAMED executive board, added: “I am confident that this project will be a showcase for our ability to provide world class integrated acute and post-acute care in a hospital that is custom-made to suit the patient’s needs here in the UAE. This will allow many of them to have access to top quality rehabilitative treatments near their families, and the care they receive will be fully integrated with ambulatory follow-up care and prevention.”
About Investcorp
As at December 31, 2017, the Investcorp Group had $22.2 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM
Since its inception in 1982, Investcorp has made over 175 corporate investments in the U.S., Europe and the MENA region, across a range of sectors including healthcare, retail and consumer products, technology, business services and industrials, and more than 500 commercial and residential real estate investments in the US and Europe, for in excess of $56 billion in transaction value.
Investcorp employs approximately 390 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit: www.investcorp.com; www.twitter.com/Investcorp @investcorp; www.linkedin.com/company/Investcorp
About VAMED
Founded in 1982, VAMED has become the leading global provider of a full line of services for hospitals and other health care facilities. The group has implemented more than 800 projects in over 80 countries on five continents. VAMED’s portfolio ranges from project development, planning and turnkey equipment via maintenance, technical, commercial and infrastructure services to the total operational management of health care facilities. With its portfolio of services, VAMED covers the entire range of health care, from health tourism and preventive medicine via medical care and nursing to aftercare and rehabilitation. VAMED is Austria’s leading private provider of rehabilitation services and, through VAMED Vitality World, the company is also Austria’s largest operator of thermal spas and health resorts. In the year 2016 the VAMED group was responsible for some 17,400 staff worldwide, generating a volume of business of € 1.6 billion.
About Blue Apple Partners
Founded in 2013 by Zaid Al Siksek and M. Mansur Ali, Blue Apple Partners is focussed on managing and developing specialist healthcare facilities and services in the GCC. The company has created a model for health care delivery that drives efficiencies to patients and payers by creating a provider network that is aligned towards a common goal of health and wellness. The Company is currently working on opportunities in the UAE and KSA.
