South Africa’s Mediclinic to own Dubai’s largest healthcare operator

South-African based international private hospital group, Mediclinic, announced on Monday it is buying out the remaining shares for Emirates Healthcare Holdings from Varkey Group and General Electric in a deal worth $223.6 million. Mediclinic previously held 50.37 per cent and with this transaction will now own 100 per cent of Dubai’s largest healthcare operator. The company will fund the deal through an equity contribution of 1 billion rand and debt raised in Dubai. Emirates Healthcare runs two hospitals - Welcare Hospital and The City Hospital - and eight operational clinics in Dubai. The company employs around 1,900 staff and treats over 600,000 patients a year. "This transaction is the logical next step as we continue to invest in attractive growth and development opportunities across our operations," said Danie Meintjes, CEO of Mediclinic International in a press statement. "Emirates Healthcare has grown at exceptional rates since Mediclinic's entry in 2006 and the opening of The City Hospital in 2008, Dubai's largest private hospital. Based in Dubai, Emirates Healthcare is ideally positioned to benefit from the ongoing growth within the United Arab Emirates and surrounding regions." Meanwhile Dubai-based Varkey Group also commented that this move was in line with its strategy to focus on education.