M&A advisors guide major healthcare deal in Oman
Tawoos Group, one of Oman’s leading business groups, has acquired the Oman-based business of NMC Healthcare. The deal was advised on by KPMG and Deloitte (M&A advisory) and Addleshaw Goddard and Dentons (legal counsel).
As part of the deal, Tawoos Group has purchased and NMC Healthcare Oman and Elegant Medical Center for an undisclosed sum – the two business units comprise two hospitals and six clinics/aesthetics centres.
For Tawoos Group, the deal marks its entry into Oman’s private healthcare sector. “The acquisition of NMC Healthcare in Oman marks a strategic entry into a sector with strong fundamentals and national importance. With deep local insights, a long-term investment horizon and experience in managing regulated businesses, Tawoos Group is uniquely positioned to create durable value in Oman’s healthcare sector,” said Sameer Ul Haque, Chief Investment Officer at Tawoos Group.
Meanwhile, for NMC Healthcare, the divestment marks its exit out of Oman, a move which is in line with its strategy to focus on its core multi-specialty healthcare services in the UAE market.
“NMC has been proud to serve communities in Oman through our network of hospitals and medical facilities,” said David Hadley, CEO of NMC Healthcare. “At a time when we are strategically focusing on our core operations and planned investments in the UAE, we welcome the acquisition of NMC Oman by Tawoos Group, a leading, trusted, and well-established Omani business with a proven track record of fostering innovation and long-term growth.”
The million-dollar transaction was led by KPMG, which provided buy-side M&A advisory to Tawoos Group, and Deloitte, which guided NMC Healthcare through the sale process. Addleshaw Goddard (buy-side) and Dentons (sell-side) supported the legal side of the transaction.
Add-on deals expected
Looking ahead, Samir Fancy, Chairman of Tawoos Group, emphasized that the company will in the coming period chase add-on deals to further its healthcare platform. “Out goal is to create a strong local healthcare brand that benefits Oman. This is just the first step of a journey that will become a larger platform for private healthcare that is affordable yet best in class.”
Tawoos is a family office established over 40 years ago and is among the premier business groups in Oman. The group has a diversified portfolio of operating businesses in agriculture, energy, telecommunications, defense, and hospitality.
