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Law firm advises Majid Al Futtaim on major Mediclinic sale

Majid Al Futtaim has been advised by global law firm Clyde & Co on the sale of two of its City Centre Clinics, according to reports on Tuesday

Rendering of the Mediclinic Parkview Hospital in Dubai.
Rendering of the Mediclinic Parkview Hospital in Dubai.

Majid Al Futtaim has been advised by global law firm Clyde & Co on the sale of two of its City Centre Clinics, according to reports on Tuesday.

Mediclinic has acquired City Centre Clinic Deira, a large outpatient facility which opened in 2013 with two day-care surgery theatres and 18 medical disciplines, as well as City Centre Clinic Me’aisem, a smaller community clinic focusing on six core disciplines.

READ: ASGC on track to complete Mediclinic hospital by Q4 2018

Clyde & Co advised on the preparation and negotiation of the transaction documents, as well as on UAE healthcare regulatory matters.

Naji Hawayek, corporate partner at Clyde & Co in Dubai, comments: "The UAE is the fastest growing healthcare market in the region and as Dubai aims to become a global healthcare hub offering access to the highest medical service standards, we expect to see similar transactions and further growth in this sector in the next three to four years."

The Clyde & Co team was led by Naji Hawayek, who was assisted by Rajiv Nawbatt (Senior Associate – Corporate) and Neil Williams (Associate - Corporate).

Mediclinic operations to six hospitals and 23 clinics in the UAE.

 

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Construction Week - Issue 751
Oct 13, 2019