ABU DHABI, UAE, July 1, 2021 /PRNewswire/ -- The year 2020 brought the world an unprecedented pandemic that has torn down many healthcare systems worldwide; countries suffered from outbreaks that were hard to limit and keep in control. The United Arab Emirates secured a strategy that preserved its healthcare system against this pandemic by relying on many components; not only by the given precautionary measures but also on key healthcare components as Long-Term Care facilities that help shape the future; for individuals and for the country. Cambridge Medical & Rehabilitation Center has clearly demonstrated the vital need for Post – Acute Rehabilitation and Long-Term Care with services that supported patients and healthcare systems and will continue to help patients from all across the region.
Cambridge Medical & Rehabilitation Center has a history of more than 7 years of successfully delivering the science and the art of rehabilitation services for patients and families who urgently rely on these critical services when seeking enhanced progress to their patient's condition and thus, revitalizing hope. Here in the United Arab Emirates, with solid and insightful leadership, CMRC was a key component in supporting the healthcare system by admitting non-covid patients to its facilities thereby reducing the burden and pressure on the government healthcare system.
"At Cambridge, we came together, as a family, to protect our patients, their families, and our dedicated frontline teams. In doing so, we not only provided enormous value for our patients, but we came to the aid of the public and private healthcare systems, supporting their urgent needs, admitting many of their patients so that they could make room for the pandemic tidal wave of acutely ill patients. These collective efforts supported a truly outstanding year for Cambridge." - Dr. Howard S. Podolsky; Group Chief Executive Officer
As the most diversified provider of Post-Acute & Rehabilitation services in the region CMRC has demonstrated how a Long-Term Care facility could serve as a shield under the circumstances of a pandemic. CMRC developed the ability to adapt their existing long-term relationship to the ever-changing needs of the government. With extensive experience comes excellent outcomes; CMRC is a Long-term and Rehabilitation facility that provides a bed capacity of 196 in UAE distributed among two home-like facilities in Abu Dhabi and Al Ain with hospital capabilities. In addition, with another set of 60 beds in the Kingdom of Saudi Arabia, as located in Dhahran, CMRC-KSA is the only rehabilitation facility in the Eastern Province of the Kingdom of Saudi Arabia. Having more than 1,300 improved inpatients, with a service to more than 110,000 outpatients. At 87%, CMRC has the highest weaning rate in the region by providing the unique Mechanical Ventilator Weaning Program. CMRC provides patient and family-centered programs in combination with world-class standards of care provided by an exceptional 600 multi-disciplinary professionals that strive to enhance the quality of life for all of our patients and their families.
Moreover, in 2018, the UAE government contributed 66% of the country's total healthcare spending, which is equivalent to USD 15 billion. Between 2018 to 2022, the compound annual growth rate (CAGR) of private-sector healthcare spends expected to be 9.5% compared to the government contribution of 4.4%. Based on the emergence and support for public-private partnership and the aging population it is anticipated there will be greater demand for additional hospital services and beds, and the ongoing privatization of hospitals in Abu Dhabi and Dubai in combination with the mandatory medical insurance will serve continue to contribute and encourage additional spending in the healthcare sector in the UAE.
This portends a bright future of the new ownership of CMRC by Amanat Holdings, making this acquisition one of the most significant GCC healthcare deals in the past three years, worth approximately USD 232 million.
Dr. Mohamad Hamade, CEO of Amanat, added: "We have emerged as winners of a competitive bidding process to acquire this high-profile asset in CMRC, which will constitute the cornerstone of Amanat's PAC platform. It is a genuinely unique and established provider with a leading market position and an experienced management team. In FY-2020, CMRC's revenues hit a record high of USD 75.3 million, EBITDA of USD 22 million & net income of USD 15.2 million."
Dr. Howard S. Podolsky has expressed: "With CMRC's new change in ownership, we aim to continue creating value – value for our patients, and value for the healthcare systems of the UAE and KSA," to extend the commitment that CMRC has made to support communities by identifying the best healthcare solutions that meet their needs and requirements."
Additionally, in keeping with CMRC's vision of being the leader of post-acute rehabilitation services providing exceptional patient experiences and clinical outcomes across the MENA region, the demand for healthcare services continues to increase. CMRC Managing Director in UAE, Rita McGrath, has shared her prospect: "As CMRC welcomes new ownership, we look forward to expanding our UAE footprint in Home Care and Out-Patient care. Such an exciting time for our growth journey, a journey that focuses on delivering exceptional patient outcomes and supporting patient families throughout the healing journey."
As history tends to repeat itself, and the world continues to evolve, it is highly likely that COVID-19 will not be the last pandemic our earth will witness. Visionary countries like the United Arab Emirates have successfully managed the pandemic by depending on the most logical, hands-on solutions to keep the infection rate as low as possible and working with Long-Term facilities as CMRC. Will the world require more Long-Term facilities that could serve as yet, another strategic solution and long-term partnership to minimize the damage of the next pandemic?
For more information on the Center, please visit www.cmrc.com