Global law firm Clyde & Co has advised Majid Al Futtaim, the leading shopping mall, retail and leisure company in the Middle East, on the sale of two of its City Centre Clinics to Mediclinic Middle East (Mediclinic).
Mediclinic has acquired City Centre Clinic Deira, a large outpatient facility which opened in 2013 with two day-care surgery theatres and 18 medical disciplines, and City Centre Clinic Me’aisem, a smaller community clinic focusing on six core disciplines. Mediclinic operates six hospitals and 23 clinics in the United Arab Emirates (UAE).
Clyde & Co advised on the preparation and negotiation of the transaction documents, as well as on UAE healthcare regulatory matters.
Naji Hawayek, Corporate Partner at Clyde & Co in Dubai, comments: "The UAE is the fastest growing healthcare market in the region and as Dubai aims to become a global healthcare hub offering access to the highest medical service standards, we expect to see similar transactions and further growth in this sector in the next three to four years."
The Clyde & Co team was led by Naji Hawayek, who was assisted by Rajiv Nawbatt (Senior Associate – Corporate) and Neil Williams (Associate - Corporate).
Clyde & Co's healthcare practice is one of the busiest in the Middle East. As one of the region's few genuine full service firms, the firm acts as a 'one-stop shop' and advises on a number of significant acquisitions and divestments for listed companies, private equity firms and private healthcare companies.
Clyde & Co has forged a reputation as a go-to firm for M&A and JV transactions, with the largest corporate practice in the region with 20 partners and over 70 experienced lawyers. It has assisted clients in realising their investments, gaining access to new markets through organic growth/strategic acquisitions and in achieving their corporate objectives for more than 25 years in its key focus sectors.
Clyde & Co has the largest presence and is one of most experienced international law firms in the Middle East with over 40 partners and 400 staff, based full time in Abu Dhabi and Dubai in the UAE, Doha in Qatar, Muscat1 in Oman and Riyadh in Saudi Arabia, providing a full-service commercial offering of local specialists across most business sectors and practice areas.
1 Office of Fatma Al Mamari Advocacy and Legal Consultancy Firm, in association with Clyde & Co.