21st Sep 2015 07:07
LONDON (Alliance News) - Abu Dhabi private healthcare service provider Al Noor Hospitals Group PLC said Monday it has agreed to acquire Rochester Wellness for an undisclosed sum.
Rochester Wellness provides long-term physical, speech and occupational rehabilitation therapy through two inpatient facilities in Dubai and Muscat, and it operates 51 beds. It produced revenue of USD5.6 million in the nine months to December 2014.
"In addition to adding a new service in the key markets of Dubai and Muscat, we will bring the Rochester Wellness experience to our home market of Abu Dhabi. There is a large gap between supply and demand in the long term care and home care sectors and Rochester Wellness has the capacity to serve a significant number of our patients within these therapeutic areas," said Chief Executive Officer Ronald Lavater in a statement.
No financial details of the deal were disclosed.
Shares in Al Noor were untraded Monday morning. It last closed at 821.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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