Tawoos in deal to acquire NMC's Omani healthcare unit
Tawoos Group, one of Oman's premier business groups, has announced that it has entered into a legally binding agreement with NMC Healthcare Group, a leading integrated private healthcare provider group in UAE, to acquire NMC Healthcare LLC Oman and Elegant Medical Center Oman (NMC Oman).
Founded in 2016, NMC Oman comprises two hospitals, and six clinics and aesthetics centres. The transaction is subject to customary closing conditions and is expected to be completed within the next two months.
Following completion, NMC will provide transitional support services over the coming months to ensure a smooth transition and continued excellent patient care. The financial terms of the transaction are not being disclosed.
This acquisition is central to Tawoos Group's strategy to strengthen and expand the private healthcare sector in Oman, bolster services offered through premium healthcare facilities and further diversify their investment portfolio.
Tawoos Group Chairman Samir J Fancy said the acquisition was much more than just securing assets; it was about ensuring continuity of care, upskilling and creating 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. This has been a classic case of the public sector working with private enterprises for the good of the Omani economy," he stated.
Chief Investment Officer Sameer Ul Haque said: "The acquisition of NMC 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 is uniquely positioned to create durable value in Oman's healthcare sector."
This transaction also aligns with the NMC Group's strategy to streamline its focus on its core multi-specialty healthcare services in the UAE, including the enhancement of existing facilities and strategic growth across Dubai and the Northern Emirates.
In March 2025, the NMC Group opened a state-of-the-art paediatric medical centre in the densely populated Marina area of Dubai, with plans to open an additional three new facilities this year, including a new multi-specialty medical centre on the Palm Island in Dubai.
NMC Healthcare CEO David Hadley, expressing delight at serving communities in Oman through its network of hospitals and medical facilities, said: "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, a leading, trusted, and well-established Omani business with a proven track record of fostering innovation and long-term growth - key drivers of quality healthcare delivery."
"We look forward to working closely with Tawoos in the coming months to ensure continuity of care for patients and a smooth transition of ownership," stated Hadley.
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, power and telecommunications, energy, defense, hospitality and training sectors, and is continuously searching for investment opportunities in new sectors, including premium real estate development, global capital markets, and the private healthcare sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
40 minutes ago
- Trade Arabia
Al Salam Bank announces sale of key stake in Seef Properties
Al Salam Bank, the largest Islamic bank in Bahrain, has announced the sale of its 15.6% shareholding in Seef Properties to GFH. The exit of Seef Properties forms part of a broader Group optimization strategy designed to expand and reinforce focus on core banking operations and the Group's strategic holdings in banking, takaful, and asset management. ASB Capital, the Group's asset management arm, was appointed by Al Salam Bank as sell-side advisor. Under this, ASB Capital's key role will be to assist in sourcing, structuring and executing the exit of its significant minority stake in Seef Properties. Launched earlier this year with a starting assets under management (AUM) of $4.5 billion, ASB Capital recently launched its investment banking offering covering advisory, transaction mandates, capital market solutions, and other bespoke offerings across various asset classes. On this transaction, Rafik Nayed, Group Chief Executive Officer of Al Salam Bank and Managing Director of ASB Capital, said: "This transaction represents our continued commitment to exit non-strategic holdings as part of a group-wide optimization initiative." "Aligned with our strategy, we are reallocating capital and focus towards growing core banking operations and expanding our strategic holdings in banking, takaful, and asset management- sectors that offer long term value and operational synergies within the context of the Group," he noted. Additionally, Nayed said: "ASB Capital's role in facilitating the transaction, despite global market volatility, underscores the strength of our expertise and execution capabilities in transaction advisory and capital markets."
Trade Arabia
4 hours ago
- Trade Arabia
Blaze hits Al Hamriyah Port; no injuries reported
A massive fire that broke out early today at a fuel warehouse in the Al Hamriyah Port area has been contained with no injuries, according to local media reports citing Sharjah Police. The blaze engulfed flammable materials, thus sending thick plumes of black smoke into the sky, said the report. This triggered an extensive emergency response from the UAE Civil Defence, the Sharjah Police, and the National Guard, which quickly swung into action and prevented it from spreading to adjacent facilities. Major General Abdullah Mubarak bin Amer, Commander-in-Chief of Sharjah Police and Chairman of the Local Emergency, Crisis, and Disaster Management Team in Sharjah, confirmed that the fire has been fully brought under control. He noted that relevant authorities have begun cooling operations at the site. Specialised technical teams from Laboratories and Forensic Evidence Department will determine the cause of the fire and assess the damages in coordination with concerned entities, he added.
Trade Arabia
5 hours ago
- Trade Arabia
Arctech to supply solar trackers for Oman green hydrogen project
Arctech, a global leader in solar tracking, racking, and BIPV solutions, said it has signed a strategic contract with India-based ACME Cleantech Solutions to supply 175 MWp of solar trackers for the 300 MTPD Green Ammonia Project in Duqm, Oman. A pure play fully integrated renewable energy company, ACME boasts a diversified portfolio across solar, wind, hybrid as well as firm and dispatchable renewable energy (FDRE) projects. As per the deal, Arctech will deploy its signature 1P Single Axis Solar Tracking System Skyline II, engineered for harsh environments, to support the solar PV component powering one of the first large-scale green hydrogen production facilities in the Middle East region. These trackers will be delivered in phases starting from July, said Arctech in a statement. The project is located near the southeastern coast of Oman, a region characterised by coastal desert conditions including sandy soils, high wind speeds (up to 55 m/s), C5-level corrosion exposure, extreme temperatures and high levels of solar radiation, with an annual average of around 5,764 KWh/m2. The area's favourable climate, with high solar insolation, has made it a prime location for utility-scale solar projects. In recent years, Oman Power and Water Procurement Company (OPWP) has introduced renewable energy initiatives such as a new Concentrated Solar Power (CSP) project in Duqm. OPWP is actively working toward a diverse energy mix, aligning with the national target of sourcing 35–39% of electricity from renewables by 2040. This new partnership reinforces Oman's long-term vision and positions the Duqm region as a central hub in the global energy transition. Vipin Aggarwal, VP of Procurement in Green Hydrogen and International Business, expressed delight at partnership with Arctech for its 300 MTPD Green Hydrogen project in Oman.
