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Abu Dhabi’s Al Noor Hospitals Group buys Rochester Wellness

Abu Dhabi’s Al Noor Hospitals Group buys Rochester Wellness

Post the deal, the listed firm is planning to open a new Rochester Wellness unit in Abu Dhabi

Al Noor Hospitals Group has announced that it has acquired rehabilitation firm Rochester Wellness for an undisclosed sum.

Based in the United Arab Emirates, Rochester Wellness focuses on providing long-term physical, speech and occupational rehabilitation therapy for patients at home and through two inpatient facilities in Dubai and Muscat.

The business operates 51 beds and generated revenue of $5.6m in the nine months up to December 2014.

Following the deal, Al Noor Hospitals is planning to open a new Rochester Wellness facility in its 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 Al Noor Hospitals Group chief executive Ronald Lavater.

Al Noor, one of the largest healthcare providers in the UAE, said last year that it was planning to spend up to Dhs 200m in acquisitions in 2015. Lavater said in a recent interview that the group is looking for more opportunities in the UAE and the Gulf but did not name any specific targets.

Medical institutions in the Middle East are flourishing thanks to a boom in healthcare, driven by a steady growth in population and a surge in lifestyle diseases. Major hospitals are also acquiring smaller firms that specialise in niche areas in an effort to diversify their portfolio.

Earlier this year, Abu Dhabi-based NMC Healthcare acquired Americare Group and Sharjah-based Dr Sunny Healthcare Group. NMC has also signed an agreement to acquire ProVita International Medical Centre LLC for $160.6m.

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