UEMS raises capital for 'Mother of Emirates' Healthcare Complex

The company raised capital as part of its debt and equity financing initiative to launch its landmark project 'Mother of Emirates Healthcare Complex'.

National Bank of Abu Dhabi (NBAD) along with Ernst & Young acted as Lead Financial Advisors for the project. NBAD was also the Placement Agent for the transaction.

Commenting on this initiative, Mr. Mohammed Ali Al Shorafa, Managing Director & CEO of UEMS, said: "UEMS is currently undergoing a number of healthcare projects. Construction for the Women & Child Hospital, the debut project of the mother of emirates complex is set to commence in 2007".

UEMS's flagship project, a Dhs315m project is set to be the first private medical institution in Abu Dhabi specializing in gynecology, obstetrics and pediatrics. In addition, the hospital will also offer specialized medical clinics including orthopedics, dermatology, and cosmetology as well as elective care clinics such as physiotherapy, lifestyle counseling, nutrition, speech therapy, spa therapy, etc.

The hospital complex is expected to be completed within two years and will be located in the 'Between the Two Bridges' area. The Mother of Emirates Healthcare Complex will be distinguished from competition through its high service of quality and care. As such, the 160-bed hospital will include 6 'Royal Suites' and 24 'VIP Rooms' with superior amenities.

The hospital will be managed by a leading American international operator that will oversee the hiring of highly qualified full-time consultants and specialists, and will be equipped with state-of-the-art technology.

"The project, named to commemorate the benevolent deeds of H.H Sheikha Fatima bint Mubarak, The Mother of Emirates, and has been endorsed with a moral push from H.H. General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council, who spares no effort in the development of both public and private healthcare sector facilities in Abu Dhabi, at the highest standards." Al Shorafa said.

"UEMS is also in the process of developing a specialized nursing institute, which will be compliant with American nursing standards, an acute-care specialized hospital, and a dialysis centre" he added.

"The limited capacity of existing hospitals in Abu Dhabi combined with the rapidly expanding population has created a growing demand-supply gap in the provision of maternity and childcare services" Stuart Henrickson, General Manager of Corporate Finance at NBAD said.

"The hospital aims to fill this gap by specializing in these fields" he explained.