Dubai Investments acquires 20% stake in under-construction Clemenceau clinic
Dubai Investments has grown its healthcare portfolio with a 20% stake in an equity partnership in the $126.6m (AED465m) Clemenceau Medical Centre ( pictured), which will offer specialty care across multiple disciplines in Dubai Healthcare City Phase 2.
The equity partnership with Khansaheb Investments (55%) and CMC Sal (25%) is the latest addition to the Dubai Investments healthcare portfolio, which also includes an equity partnership for a multi- disciplinary hospital and day care clinics in Dubai under renowned British teaching hospital King’s College Hospital London. Construction of Clemenceau Medical Centre is now 68% complete, and the 110-bed specialty care facility is expected to open June 2019.
Khalid Bin Kalban, managing director and chief executive officer of Dubai Investments, said: “Healthcare is one of the core development sectors of the nation, and there are concerted initiatives to strengthen it and bring world-class medical facilities to the region.
“The investment is part of a diversification strategy into identified sectors which achieve key business objectives for Dubai Investments, align with the long term plans of the UAE government, and play an important role in supporting the momentum of the Dubai economy. We will work closely with [Clemenceau Medical Centre] management to ensure we deliver a cutting-edge facility that serves the community.”
Clemenceau Medical Centre Dubai Healthcare City will offer six operating theatres, 44 consultation clinics, a cardiac centre, an advance and robotic surgery suite, and wide-ranging inpatient and outpatient services offering the latest technologies and medical procedures.
It is managed by Clemenceau Medicine International and part of the Clemenceau Medicine Network that includes the Clemenceau Medical Centre in Beirut, Lebanon and in Riyadh, Saudi Arabia. Clemenceau Medical Centre Beirut has been selected by John Hopkins Medicine International as one of its affiliate reputable medical institutions.