Healthcare M&A heats up: More tie-ups in the pipeline for London-listed Al Noor
London-listed Al Noor can't get a minute's rest.
Just a week after agreeing to a £1.4bn merger with South African company Mediclinic, it has received interest from yet another rival healthcare company.
In an announcement today, it revealed that VPS, a privately-held healthcare provider with a network of hospitals in the UAE, has shown preliminary interest. It has until 5pm on 17 November to announce its intention to make a firm offer under UK takeover rules.
This latest proposal takes the number of potential suitors for the FTSE 250-listed firm up to three – NMC Health has also declared its intention to carry on fighting for a tie-up with the company.
By joining forces with Mediclinic, which runs hospitals across three continents, Al Noor will become the largest healthcare provider in the UAE and the third largest in Switzerland. The merged company will be named Mediclinic International.
Investors reacted positively to today's news, with shares in the company currently up at £11.84 – 1.63 per cent higher than yesterday.