Region's healthcare market to be worth $71.3 billion by 2020
Abu Dhabi's NAS United Healthcare acquired by Bahraini-consortium
Abu Dhabi’s NAS United Healthcare Services has become the latest acquisition in the Arabian Gulf’s rapidly growing healthcare sector, in a buyout by Bahraini alternative investment firm Arcapita and the country’s sovereign wealth fund Mumtalakat Holding Company.
The two entities are partnering to acquire a 90 per cent stake in NAS, which provides third-party administrator services to more than 40 health insurance and takaful companies in the Arabian Gulf region, for an undisclosed sum.
“Global population trends indicate the importance of increased healthcare solutions and by extension, health insurance services,” said Mumtalakat chief executive Mahmood Al Kooheji.
“We believe NAS has significant potential to expand into regional countries and secure large contracts and we are delighted to partner with Arcapita to invest in NAS.”
Competition for healthcare assets across the Arabian Gulf is intensifying, as governments look to cut costs and increase the involvement of private companies in the sector.
The region’s healthcare is forecast to grow to worth $71.3 billion by 2020, growing at a compounded annual growth rate of 12.1 per cent.
NAS provides services to more 7,200 healthcare providers across the GCC region, the Middle East and India, servicing more than 500,000 insured members and processes in excess of 3 million medical claims per year.