7th Aug 2015 11:34
LONDON (Alliance News) - Al Noor Hospitals Group PLC, a private healthcare service provider in Abu Dhabi, said Friday that it has agreed to lease additional premises from Al Saqr, subject to shareholder approval.
Al Saqr is the real estate development company of United Al Saqr Group LLC. Sheikh Mohammed Bin Butti Al Hamed, who owns a 28.25% interest in Al Noor, has a controlling interest in United Al Saqr Group.
"The proposed transaction is in line with the board's strategy of investing and expanding in Al Noor's existing hospitals to take advantage of the long-term strength of the Abu Dhabi healthcare market," said Chief Executive Officer Ronald Lavater in a statement.
"Abu Dhabi remains one of the fastest growing sectors in the Gulf region due to a rapidly ageing demographic, an increasing incidence of lifestyle-related medical conditions such as diabetes and obesity, and service gaps in the current healthcare market. By expanding each of our hospital's capacity, we will be positioned to deliver robust returns for shareholders," Lavater added.
Shares in Al Noor were down 0.1% at 949.50 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
ANH.L