UAE’s Essa al-Ghurair to sell 30% stake in healthcare business

United Arab Emirates-based businessman Essa al-Ghurair plans to sell a 30 percent stake in his healthcare business over the next three years to fund expansion into Africa, Reuters reported.

Prime Hospitals and Clinics, Ghurair’s healthcare brand, will be prepared for the stake sale over the next two years, the Reuters report said.

The business, at present, is restricted to the UAE with one hospital and 10 clinics. Ghurair did not specify the African countries he plans to reach.

A sale is "one way of growing the business, so at least you can bring someone from outside to give you a bit of direction, for funding requirements to grow the business," he said.

"I have ambitions to go to Africa for healthcare, but I have to create a model that will work. It takes time to build this model, and I'm working on this," Ghurair was quoted as saying.

Recently, there has been increased investor activity in the healthcare sector.

According to the report, Abu Dhabi-based Al Noor Hospitals is currently courting takeover bids from UAE-based VPS Healthcare and South Africa's Mediclinic International.

Earlier this week, NMC Health announced that it would spend $189 million on a 51 percent stake in UAE-based fertility clinic operator Fakih IVF Group. Saudi Arabia's Al Borg Medical Laboratories is also said to be considering selling 49 per cent stake of its company.