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Bloomberg
Al Noor Hospitals Group, which raised £221mn ($362mn) in a London share sale in June, is considering expanding in Dubai after the emirate announced plans to make health insurance mandatory.
Compulsory insurance “makes that market even more attractive than it was,” chief strategy officer Sami Alom said in an interview in Abu Dhabi, where the group is based. “We will be focusing our efforts on Dubai.”
The expansion will be “most likely through acquisitions,” he said, declining to provide details. Al Noor Hospitals said in October it had acquired 75% of Manchester Clinic in Dubai.
Dubai, the second-biggest member of the UAE after Abu Dhabi, will require its residents and visitors to have compulsory health insurance from their employers or sponsors, a national English daily said in a report on November 27, citing health officials. The emirate’s government endorsed its medical care law, according to UAE’s official news agency.
Abu Dhabi already has compulsory health insurance.
Al Noor Hospitals doesn’t need to borrow to finance possible acquisitions, Alom said.
“We’re also keeping our eyes open for the longer term and looking outside the UAE to the” rest of the Gulf Co-operation Council, he said.
There are no comments.
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