Acquisition of Rochester Wellness

RNS Number : 6218Z

Al Noor Hospitals Group PLC

21 September 2015

 



Monday, 21 September 2015: FOR IMMEDIATE RELEASE

Al Noor Hospitals to acquire Rochester Wellness

Expands continuum of care by adding long term care services in

Dubai and Oman

Abu Dhabi:  Al Noor Hospitals Group Plc (ANHA.L; the "Company" or "Al Noor"), the largest private healthcare service provider in Abu Dhabi, today announces that it has reached an agreement to acquire  Rochester Wellness.

Founded in 2006, Rochester Wellness is a leading provider of long-term physical, speech, and occupational rehabilitation therapy caring for patients in their homes and through two inpatient facilities in Dubai and Muscat. The business operates 51 beds and generated revenue of USD 5.6m during the nine months up to December 2014.   

Ronald Lavater, Chief Executive Officer, Al Noor Hospitals Group Plc said: "The acquisition of Rochester Wellness demonstrates our commitment to expanding our services across the entire continuum of care.  In addition to adding a new service in the key markets of Dubai and Muscat, we will bring the Rochester Wellness experience to our home market of Abu Dhabi. There is a large gap between supply and demand in the long term care and home care sectors and Rochester Wellness has the capacity to serve a significant number of our patients within these therapeutic areas."

Karim Jamal, Managing Director, Rochester Wellness said:  "I am confident that in Al Noor Hospitals we have the right partner to ensure we continue to provide the highest level of care for our patients as well as drive our business development.  As the largest private healthcare service provider in Abu Dhabi, Al Noor has the reputation and resources to help us grow into new areas of treatment and expand our geographic footprint.  We look forward to working with Al Noor in the years ahead."

Rochester Wellness coordinates comprehensive, convalescent and geriatric rehabilitation programmes in a non-hospitalized environment.  The Company provides post-acute care including rehabilitation, home care, and long term care.  Services concentrate on relieving the distress of patients using a multi-disciplinary approach to rehabilitative and palliative care. 

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Enquiries:

Al Noor Hospitals Group plc

Dr Sami Alom [phone]

Brunswick Group

Jon Coles / Craig Breheny [phone]

Rupert Young [phone]

About Al Noor

Al Noor provides primary, secondary and tertiary care in the Emirate of Abu Dhabi and the wider region through its portfolio of hospitals and medical centres.  As of 30 June 2015, the company had 216 operational beds and 684 physicians, more than any other private competitor in Abu Dhabi. Al Noor was the first private hospital in Abu Dhabi City to obtain Joint Commission International ("JCI") accreditation, and today all of its hospitals are accredited. The company operates in one of the fastest growing sectors in the Gulf region due to a rapidly ageing demographic, an increasing incidence of lifestyle-related medical conditions such as diabetes and obesity, and service gaps in the current healthcare market. Its growth strategy is focused on meeting the strong demand driven by these three factors.

The company is listed in on the London Stock Exchange (ticker: ANHA.L).  For more information, please go to: www.alnoorhospital.com

For more information about Rochester Wellness please go to: www.rochesterwellness.com

 

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