VPS Healthcare drops out of running for Al Noor Hospitals



VPS Healthcare said that it did not intend to make an offer for Al Noor Hospitals, clearing the way for South Africa’s Mediclinic International to buy the Abu Dhabi-based company.

The private healthcare company VPS, which is also based in the UAE, said it believed a deal would not be in its best interest.

VPS had a December 8 deadline to announce a firm intention to make an offer for Al Noor under UK takeover rules.

Al Noor has already accepted a £1.4 billion (Dh7.74bn) offer from South Africa’s Mediclinic but other suitors have expressed interest.

NMC Health dropped out in November after making an initial offer. NMC Health’s chief executive, BR Shetty, told Reuters that the company had withdrawn its bid for Al Noor due to valuation concerns.

Shares in Al Noor were down 1.2 per cent to 1,141 pence apiece on the London Stock Exchange in afternoon trading. Shares in Mediclinic were down 0.2 per cent at the close in Johannesburg.

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