Our value proposition lies in the unique offering of a diversified platform with a focus on specialized healthcare, supported by strong demographics, and management teams that are proactive investors looking to build platforms that can build scale, benefit from synergies and attract talent to ultimately create more attractive models that are built for premium exits in the future.

3

Investments in Healhtcare Sector

418

Operational Hospital Beds across UAE, KSA and Bahrain

5

Specialized Hospitals

Sector Overview

Across the GCC, a growing and simultaneously ageing population, and the increasing prevalence of lifestyle diseases, has seen healthcare quickly climb the ranks and become a top priority for the region’s governments as they strive to diversify their economies away from a reliance on oil. The MENA region’s over 65 population as a percentage of the total population stood at 5.7% in 2019, this number is set to rise to 7.6% in 2030 and to 12.7% in 2050.2 This has also been accompanied by a rise in the prevalence rates of lifestyle diseases. The need to build modern, accessible and increasingly digital healthcare sectors has been further accelerated by the COVID-19 pandemic which has driven governments all over the world to rethink the way healthcare is accessed and the way in which services are delivered. In healthcare, the care model has shifted to preventative care and value-based payment models to curb the rising cost of care and drugs which has emphasized the requirement of putting patients at the center of healthcare decision-making through driving efficiencies in convenience, accessibility, transparency as well as the personalization of products and services. In turn, this has also sprung more focus on the widening demand-supply gap of skilled professionals, pressuring regulators to introduce digital therapeutics and alternative care to mitigate the global challenge of access to care and improve patient outcomes. Additionally, as digital healthcare proliferates globally and across the region, it is becoming more critical for governance systems to strengthen data privacy, build efficiencies, and close the digital divide.

Special Education and Care

The Special Education and Care (“SEC”) sector strengthens both Amanat’s Healthcare and Education platforms by expanding their reach to cater for people of determination. The SEC sector remains nascent in the region with significant gaps in the quality of service and access for people in need. These factors, along with increasing awareness, earlier diagnosis, and reduced social stigmas, provide strong underlying growth drivers for the sector. Amanat aims to lead the development of the SEC sector in the region with the goal of enhancing quality and outcomes for this segment of the population while creating a lasting and meaningful social impact on the communities we operate in.

Post-Acute Care

Post-acute care (PAC) refers to the continued post-hospitalization that provides care and rehabilitation services to patients recovering from surgery, chronic illness, mental illness, or disability. As the region’s aging population grows and lifestyle diseases become increasingly prevalent, countries around the GCC are having to confront with a widening gap between the demand for high-quality post-acute care services and their supply. To address this growing supply gap, governments across the region will look increasingly towards private players. Public-private partnerships in the PAC sub-sector are anticipated to grow in popularity over the coming years as governments work to diversify their healthcare budgets and optimize their specialized care offering.

Specialist Care

Investing in specialized healthcare allows investors to provide a more focused and tailored approach for patients, this is especially important for specific healthcare needs and the growing demand for quality healthcare services. Such specialty care aims to provide end-to-end holistic care including ENT, obstetrics & gynecology, dermatology & cosmetology, physiotherapy, dentistry, gastroenterology, orthopedics, while also providing internal medicine, and pediatrics services.

Others

On the healthcare front, we are taking part in the advancement of medial tourism and patient repatriation in the region, effectively leveraging our integrated healthcare platforms to offer high-quality specialized medical service that have the ability to compete with those offered by other emerging markets.

Investment

Human Development Company (“HDC”)

https://hdc.com.sa/

Investment Date: October 2022
60%
Stake

Human Development Company (“HDC”)

HDC started in 2007 and gradually transformed through strategic expansion with a codified, scientific, and technical infrastructure to become the leading provider of special education and care services covering educational, medical, and rehabilitation services in KSA. HDC has catered to over 20,000 beneficiaries over the years and progressively grew its group of special education and care facilities to 9 schools, 22 daycare centers and specialized rehabilitation medical clinics across 6 provinces in KSA, including Riyadh, Eastern Province, Mecca, Aseer, Jazan, and Qassim. HDC is renowned for its commitment to providing high quality services governed by automated digital solutions through Rehadox software, which was internally developed and implemented in the company’s daycare centers. The focus on quality is demonstrated by HDC’s daycare centers typically being rated A+ by the Ministry of Human Resources and Social Development (“MHRSD”) in KSA.

c.3,000

Beneficiary

AED c.215 MN

Amanat’s Investment

Investments

Cambridge Medical and Rehabilitation Centre (CMRC)

https://cmrc.com/

Investment Date: February 2021
100%
Stake

Cambridge Medical and Rehabilitation Centre (CMRC)

Cambridge Medical and Rehabilitation Centre (CMRC) is a provider of specialized rehabilitation and long-term care, with facilities in Abu Dhabi and Al Ain in the UAE, and Dhahran in Saudi Arabia. CMRC provides multidisciplinary and intensive rehabilitation for individuals suffering from a range of medical conditions such as strokes, brain or spinal cord injuries, or congenital conditions including Cerebral Palsy. CMRC is accredited by the Joint Commission International and Commission on Accreditation of Rehabilitation Facilities, the pre-eminent bodies for healthcare quality in the world.

256

Operation Beds

AED 873 MN

Amanat’s Investment

Leadership Team

Dr Howard S. Podolsky, MD JD MBA FCLM

Dr. Howard Podolsky, Group Chief Executive Officer of Cambridge Medical and Rehabilitation Center,(the United Arab Emirates and Kingdom of Saudi Arabia) achieved his Doctor of Medicine from the State University of Buffalo, New York, School of Medicine and Biomedical Sciences, his Juris Doctor of Law from St. Louis University School of Law (Dean’s Scholar), and his Master’s Degree in Business Administration from the Olin School of Business, Washington University in St. Louis (Beta Gamma Sigma National Honor Society). Dr. Podolsky is a highly experienced physician executive and healthcare attorney with more than 25 years of experience in executive management, clinical (Consultant Physician: Internal Medicine and Geriatrics) leadership, healthcare regulations, and legal expertise. Dr. Podolsky has served as Group Chief of Staff for SEHA (Abu Dhabi Health Services, PJSC) and Vice President, Medical Underwriting, for American General Life Companies, a subsidiary of AIG. As an innovative leader, Dr. Podolsky developed the first physician-led Accountable Care Organization in the United States and has served as corporate Chief Medical Officer and Chief Quality Officer for several national healthcare organizations in the United States. Working closely with the original investors Dr. Podolsky recently led the M&A team facilitating the sale of Cambridge Medical and Rehabilitation Center to Amanat Holdings, the largest publicly listed GCC holding company focused on healthcare and education, for more than USD 230M. As such, Dr. Podolsky and his very innovative team at Cambridge Medical and Rehabilitation Center are leaders in the delivery of Post- Acute Rehabilitation and Long-Term Care throughout the GCC. In addition, Dr. Podolsky is a long-standing Fellow of the American College of Legal Medicine and a frequent speaker on the topic of healthcare policy and regulations. In his spare time, Dr. Podolsky has served as a part-time professor for the Swiss Business School, teaching healthcare finance and healthcare law for the healthcare MBA program. Howard and his wife Gina, a social entrepreneur, live in Abu Dhabi with their 17-year-old son, Max.

Mohamad El Hage

Mr. El-Hage serves as the Group Chief Financial Officer and Managing Director of Investments at Cambridge Medical & Rehabilitation Center (“CMRC”), a company which he co-founded at TVM Capital Healthcare Partners (“TVM”) in 2012 and has grown CMRC to become one of the leading providers of long-term and post-acute rehabilitation care in the MENA region.

Previously at TVM, Mr. El-Hage held the position of Operating Partner & Managing Director, where he led the successful development, growth, and sale of portfolio companies CMRC and Wahat-Al-Aman (a divestment from Manzil Healthcare Services), generating USD 300 million in exit proceeds for TVM and shareholders.

Mr. El-Hage brings nearly 25 years of finance, strategy, and management experience from renowned multinational advisory firms such as PwC, JP Morgan, Booz Allen Hamilton and Unifund Capital working across the MENA and US markets where he executed tens of transactions and investments exercises worth more than USD 5 Billion. Mr. El-Hage holds an MBA from the Kellogg School of Management – Northwestern University, and a BBA from the American University of Beirut

Sukoon International Holding Company (“Sukoon”)

https://sukoon.com.sa/

Investment Date: August 2015 & February 2016
31.25%
Stake

Sukoon International Holding Company (“Sukoon”)

Sukoon International Holding Company (“Sukoon”) provides post-acute extended care and critical care medical services to patients who are no longer suited for care within a traditional hospital setting. International Extended Care Center (IECC), Sukoon’s flagship JCI-accredited facility located in Jeddah, has current capacity of 130 beds with plans to increase physical capacity to up to 230 beds

130

Operation Beds

AED 161 MN

Amanat’s Investment

Investments

Al Malaki Specialist Hospital

https://www.almalakihospital.com/

Investment Date: August 2018
69.24%
Stake

Al Malaki Specialist Hospital

Al Malaki Specialist Hospital is a premium multispecialty hospital located in the Kingdom of Bahrain. The facility provides end-to-end holistic care including ENT, obstetrics & gynecology, dermatology & cosmetology, physiotherapy, dentistry, gastroenterology, orthopedics, internal medicine, and pediatrics services. The facility launched its operations in March 2019.

32

Operation Beds

AED 142 MN

Amanat’s Investment

Leadership Team

Rohit Srivastava

A healthcare professional with Masters in hospital management and finance, and more than 20 years of experience in healthcare operations and strategic management. Rohit has worked with major corporate hospitals like Apollo and Wockhardt in India and has been associated with leading healthcare providers in MENA region. His key associations include As-Salam International Hospital – Cairo, New Mowasat Hospital – Kuwait, Royal Bahrain Hospital – Bahrain and Burjeel Specialty Hospital – Sharjah prior to joining Al Malaki Specialist Hospital.

Ahmed Alsayed

A Finance professional with an experience of more than 10 years in financial planning and modeling, accounting, internal controls and auditing. Prior to joining Al Malaki Specialist Hospital, Ahmed held senior finance and management role with another leading healthcare provider in Bahrain and two of the big4 consultancy firms, serving various industries including insurance, re-insurance, hospitality, and governmental entities. Ahmed holds a Bachelor of Science in Accounting and is a Certified Public Accountant (CPA).

Divestments

International Medical Center (“IMC”)

https://www.imc.med.sa/

Investment Date: December 2016 , Divestment Date: September 2021
11.13%
Stake

International Medical Center (“IMC”)

International Medical Center (“IMC”) operates a 300-bed multi-disciplinary tertiary care hospital that serves Saudi Arabia’s Western Region and targets the high-end segment of the market. In July 2019, IMC completed the acquisition of a medical complex in North Jeddah, comprised of a primary care center with over 100 highly qualified doctors; a state-of-the-art radiology center; and a stand-alone day-care surgery center with four ORs.

AED 361 MN

Amanat’s Investment

AED 433 MN

Amanat’s Divestment

Our Diverse Portfolio

Investment: NEMA

Higher Education

Investment: BEGiN

Education Technology

Investment: CMRC Real Estate

Social Infrastructure

Investment: CMRC

Post-Acute Care & Rehabilitation

Investment: MDX

Higher Education

Investment: NLCS

Social Infrastructure

Investment: Al Malaki Specialist Hospital

Specialist Care

Investment: Sukoon

Post-Acute Extended Care and Critical Care