QFB Sells Partial Stake in UAE-Based Leading Healthcare Service Provider

March 08, 2017

Qatar First Bank, has sold a partial stake in one of the most successful leading healthcare platforms in Abu Dhabi, Dubai, Sharjah and Kuwait. 

In a statement, QFB said it sold 44% of its shares in this investment generating more than 2x cash on cash returns on the exited stake.

Al Asali, a spokesperson on behalf of the group said, “Despite the downward revision in 2016, the current valuation for both of our investments in Turkey, Memorial Healthcare Group (“Memorial”) and English Home, is still 47% higher than their acquisition price; both companies continue to grow in sales and profitability and occupy leading positions in their respective industries.”