Olive Rock Partners takes stake in UEMedical in debut deal
Summary
Olive Rock Partners, an independent private equity firm based in Abu Dhabi, completed its debut deal with an investment in healthcare company UEMedical. Olive Rock, in which Abu Dhabi Catalyst Partners became an anchor investor in March, said it is investing in the business alongside an affiliate of New York-based alternative asset firm Cerberus Capital Management. It did not reveal the value of the investment in UEMedical, but founding partner Muhannad Qubbaj told The National that it had secured an "influential minority" stake. “We are excited to partner with the UEMedical team and shareholders to further enhance the growth of this exceptional platform within Abu Dhabi and its neighbouring Emirates as well as abroad, focusing initially on Saudi Arabia,” Mr Qubbaj said. “With an expanding focus on healthcare in the region, the company [UEMedical] is well-positioned to broaden its reach,” Gabriel Schulze, senior managing director of Cerberus, said.