Mubadala Investment Company , Abu Dhabi’s sovereign investment arm, has acquired Dental Care Alliance, an US support organisation for about 390 allied practices across 22 American states.
The investment was made in partnership with funds managed by Harvest Partners, a private equity firm focused on middle-market companies, Mubadala said on Monday.
The Florida-based alliance has a “highly diversified range of services, a strong management team with a proven track record, and a scalable platform with a significant growth trajectory”, said Alvin Teh, head of the consumer unit at Mubadala.
Mubadala, which is at the heart from the UAE’s efforts to diversify its economy, manages more than $284 billion in assets globally.
In recent years, it has stepped up its investment in technology, mobility, clean energy plus life sciences as it expands its portfolio.
Mubadala is at the particular forefront of the UAE’s healthcare industry, investing in new ventures and forging partnerships to enhance the country’s biopharmaceutical manufacturing capabilities, a move set to benefit the entire region.
The variety of therapeutic medicines produced at the plant will be used to treat complex diseases such as cancer, as well because infectious illnesses and inflammatory and autoimmune disorders.
Cleveland Clinic Abu Dhabi, Healthpoint, Imperial College London Diabetes Centre, Amana Healthcare, National Reference Laboratory, Capital Health Screening Centre, Abu Dhabi Telemedicine Center and Dana Al Emarat are part of Mubadala Health’s network of health care centres.
Other members are HealthPlus Diabetes and Endocrinology Centre, HealthPlus Family Clinics, HealthPlus Fertility, HealthPlus Women’s Health Centre, Moorfields Eye Hospital Abu Dhabi, as well as a stake in Al Meswak Dental Treatment centers Group.
The particular DCA is one of the largest multi-branded dental support organisations in the US. It will be centered on the full range of general and speciality treatments.
Funds managed by Harvest Partners obtained the connections in collaboration with its management inside 2015.
After a recapitalisation exercise that closed in December 2022, Mubadala and money managed by Harvest Companions jointly control the DCA and will work closely with the management team.
“The investment will allow DCA to further empower the particular exceptional dental professionals that we support as they deliver meaningful patient experiences and vital dental health care, ” said Jerry Rhodes, chief executive from the alliance.
Founded in 1991, the DCA has about 5, 400 employees, including more than 885 dentists that handle a lot more than 3. 5 million patient visits a year.
Updated: January 16, 2023, 7: 35 AM