Al Noor buys Mediclinic in reverse takeover

Mediclinic International and Al Noor Hospitals Group agree to combine.

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Johannesburg - Mediclinic International and Al Noor Hospitals Group agreed to combine, creating a hospital company with operations the Gulf states and South Africa, after Al Noor fended off an approach by NMC Health.

Al Noor is buying Johannesburg-based Mediclinic in a reverse takeover, they said in a statement on Wednesday.

The companies said this month they were in talks about a tie-up that would create the biggest supplier of private care in Dubai and Abu Dhabi, with operations in Europe and Southern Africa.

* With assistance from Janice Kew in Johannesburg and Matthew Campbell in London

BLOOMBERG