Abu Dhabi-based NMC Health announced that it has completed the acquisition of Dr Sunny Healthcare Group.
The acquisition was first announced in April 2015 and is part of NMC’s regional expansion.
Dr Sunny Healthcare Group operates six medical centres and three pharmacies in Sharjah. The clinics under the group receive around 1,300 patients daily helping NMC widen its addressable market and patient cross-referral capabilities of its network.
The deal is also expected to provide a good return on investment to NMC, further boosting the company’s profitability.
NMC said that Dr Sunny Healthcare Group’s gynaecology and paediatric service offerings are also expected to complement its growing IVF and women’s health franchise including its Spanish subsidiary Clinica Eugin.
Post the acquisition, the founder and most of senior management members of Dr Sunny Healthcare group will be retained, a statement said.
The GCC’s healthcare spending is projected to increase at a compound annual growth rate of 11.4 per cent from 2010 to 2015, according to an EY report.
Major healthcare firms in the UAE are cashing in on this boom, acquiring established smaller clinics and other facilities to widen their referral network and complement their operations.
In April this year, NMC also acquired Americare Group, an Abu Dhabi-based health firm that focuses on in-home healthcare services. The buyout of Americare Group is expected to help the group boost its revenues streams by helping tap into outpatient care and diversify its patient population.
Another major healthcare provider Al Noor Hospitals said last year that it has set aside $200m for acquisitions in the UAE and other Gulf markets. The group also completed three deals last year, including that of a cancer centre.