Olive Rock Partners, an independent private equity firm based in Abu Dhabi, said it acquired majority stakes in two UAE-based dental chains.
Olive Rock Partners invested in Dubai-based The Dental Studio and the Al Bustan Medical Centre in Abu Dhabi, in partnership with their respective managing doctors.
“Both platforms are leaders in their respective markets and are uniquely positioned for M&A expansion within complementary catchment areas within the United Arab Emirates,” said Abdullah Shahin, founding partner of Olive Rock.
“To add support to the growth of the platforms, we have onboarded international expertise to the company boards and operating committees,” said Mr Shahin.
TDS, which was established in 2004, operates five clinics across Dubai and Abu Dhabi-based Al Bustan has three clinics.
The deal comes as demand for dentistry services in Dubai alone is expected to surge 156 per cent by 2025, according to the Dubai Healthcare City Authority.
The dental market in Middle East and Africa is expected to grow to $3.49 billion by 2028 from $2.23bn in 2021, MarketResearch has said.
“We have been interested in and mapping the dental sector for a few years, and have been proactively seeking to invest in leading teams managing promising platforms, within regionally fragmented and high growth markets,” Muhannad Qubbaj, founding partner of Olive Rock, said.
Olive Rock, founded by Mr Qubbaj and Mr Shahin in 2020, invested in healthcare company UEMedical last year.
The company operates Danat Al Emarat Hospital, a specialist women's and children's hospital in the UAE capital, as well as the HealthPlus fertility and family health centres and the Moorfields Eye Hospital Centre Abu Dhabi — a joint venture with the London-based specialist Moorfields Eye Hospital NHS Foundation Trust.
Olive Rock was advised by Deloitte and Eversheds Sutherland’s UAE practice on both deals, the company said.
UAE currency: the story behind the money in your pockets
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FIXTURES
All kick-off times UAE ( 4 GMT)
Brackets denote aggregate score
Tuesday:
Roma (1) v Shakhtar Donetsk (2), 11.45pm
Manchester United (0) v Sevilla (0), 11.45pm
Wednesday:
Besiktas (0) v Bayern Munich (5), 9pm
Barcelona (1) v Chelsea (1), 11.45pm
The biog
Favourite hobby: taking his rescue dog, Sally, for long walks.
Favourite book: anything by Stephen King, although he said the films rarely match the quality of the books
Favourite film: The Shawshank Redemption stands out as his favourite movie, a classic King novella
Favourite music: “I have a wide and varied music taste, so it would be unfair to pick a single song from blues to rock as a favourite"
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Tips for entertaining with ease
· Set the table the night before. It’s a small job but it will make you feel more organised once done.
· As the host, your mood sets the tone. If people arrive to find you red-faced and harried, they’re not going to relax until you do. Take a deep breath and try to exude calm energy.
· Guests tend to turn up thirsty. Fill a big jug with iced water and lemon or lime slices and encourage people to help themselves.
· Have some background music on to help create a bit of ambience and fill any initial lulls in conversations.
· The meal certainly doesn’t need to be ready the moment your guests step through the door, but if there’s a nibble or two that can be passed around it will ward off hunger pangs and buy you a bit more time in the kitchen.
· You absolutely don’t have to make every element of the brunch from scratch. Take inspiration from our ideas for ready-made extras and by all means pick up a store-bought dessert.
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