NMC Healthcare will sell 65% of its stake in Fakih IVH fertility clinic to focus on its main business
NMC Healthcare, a hospital operator in Abu Dhabi, plans to sell its 65% share in Fakih IVF Fertility Center to Blue Ocean Health Group. This is part of its plan to simplify its business and focus on its main operations.
Deal Details
NMC Healthcare announced that the deal is expected to be completed within two months, depending on standard conditions. The financial terms were not shared.
Once the deal is done, Blue Ocean will fully own Fakih IVF. This will help Blue Ocean grow in the fertility services market.
The money from the sale will be used for NMC Healthcare’s future projects, such as improving existing facilities and expanding in Dubai and the Northern Emirates.
This year, NMC plans to open four new medical centers, including a pediatric center in Dubai Marina and a multi-specialty center in Palm Jumeirah, which will open in the summer. The funds from the sale of Fakih IVF will support these plans.
Future Plans
Michael Fakih, executive chairman of Blue Ocean Health and founder of Fakih IVF, said they have big plans. They aim to expand their reach, improve their current facilities, add more medical services, and provide better training for their medical staff.
He also said they will invest in scientific research to advance fertility treatment technology.
The UAE’s IVF market was worth $243.56 million in 2023 and is expected to grow by 9.24% per year until 2029, according to a Research and Markets report.
Background
After going through financial restructuring, NMC Healthcare appointed a new board and leadership team led by CEO Hadley to focus on growth.
In March 2024, NMC Healthcare settled legal disputes with Dubai Islamic Bank outside of court.
In 2022, NMC Healthcare’s main operations in the UAE exited administration and became a new company, NMC Opco. A board chosen by creditors now manages it.
As part of this process, 34 NMC companies completed a restructuring plan approved by 95% of creditors in September 2021.
NMC Healthcare went into administration in April 2020 after a UK court found that the company had hidden over $4 billion in debt. In 2023, a lawsuit was filed against founder B.R. Shetty and former CEO Prasanth Manghat for alleged fraud.
Published: 11th February 2025
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