Investcorp, a global provider and manager of alternative investment products together with VAMED, a leading global provider of rehabilitation and other services for hospitals and promoter of the project Blue Apple Partners announces today the construction of a new landmark hospital complex on Reem Island, Abu Dhabi, UAE. The complex comprises a modern and highly specialised Rehabilitation Centre combined with a Children’s & Women’s Hospital and a Family Medical Centre.
This is Investcorp’s third healthcare deal which comes on the heels of the announcement of the launch of Investcorp’s healthcare fund earlier this year.
Building on Investcorp’s extensive investment capabilities in the Gulf region, Vamed’s deep operational expertise and Blue Apple’s local market expertise, the first phase of the hospital will consist of a 100+ bed Rehabilitation Centre targeted to open at the end of 2019, and which will aim to provide the highest standards in orthopaedic, cardiovascular, neurological, and oncological post-acute treatments and care for both in-patients and out-patients, using cutting edge rehabilitation approaches and technologies. It will be built and operated by VAMED, the leading global provider of development, design and operational management services for hospitals.
The second phase of the hospital will be a 100+ bed Children’s & Women’s Hospital, providing a full range of general and specialised paediatric surgery and treatments, as well as comprehensive gynaecology and obstetrics services supported by a Neonatal Intensive Care Unit. This facility will be operated by VAMED in cooperation with Charité from Berlin, Germany, one of the leading university hospitals in Europe.
An additional and essential feature of the overall development project will be a sizeable Family Medical Centre, which is also expected to open by the end of 2019, staffed by experienced family doctors providing holistic preventative care as well as all ambulatory healthcare services addressing family health planning and urgent care especially for children and women.
Mohammed Alardhi, Executive Chairman of Investcorp, said: “Investcorp has always kept a close eye on the healthcare sector in the Gulf. We are aware of the growing demand for quality healthcare in the region and are keen to play a key role in its development in the short and long term. We are particularly proud to be part of this project in Abu Dhabi, where we have deep roots and strong ties as a firm. Our investment strategy and commitment to the healthcare sector is in line with the UAE National Agenda and long-term economic plans, under its Vision 2021. We are excited about this project and the growth potential of this sector as a whole.”
Co-founder of Blue Apple Partners, promoter of the project and Chairman Eng. Zaid Daoud Al Siksek, former CEO of the Health Authority of Abu Dhabi, stated: “Al Reem Hospital and Rehabilitation Centre represents an essential building block of Abu Dhabi’s Vision 2030. It will provide the full spectrum of integrated primary, secondary and tertiary care in specialised rehabilitation services and gynaecology, obstetrics & paediatrics, areas where there are currently still significant shortages and ensure that Abu Dhabi is ready to meet the needs of its growing population.”
The project is backed by an international consortium of investors led by Investcorp, and highlights the ability of Abu Dhabi to attract foreign direct investment supported by the government’s policies to encourage private sector participation. Supply of quality healthcare in the Gulf region still lags behind international standards and there is a significant gap of available and high quality rehabilitation facilities in the UAE.
Andrea Raffaseder, member of the VAMED executive board, commented: “We are delighted to bring a world-class specialised facility to the Emirate of Abu Dhabi, the UAE, and the region as a whole. VAMED`S international expertise in designing and constructing hospitals will provide clinical excellence in a patient-focused environment.”
Gottfried Koos, member of the VAMED executive board, added: “I am confident that this project will be a showcase for our ability to provide world class integrated acute and post-acute care in a hospital that is custom-made to suit the patient’s needs here in the UAE. This will allow many of them to have access to top quality rehabilitative treatments near their families, and the care they receive will be fully integrated with ambulatory follow-up care and prevention.”