TLC Holdings wins $150 bid for assets of US healthcare group
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The First Islamic Investment Bank Tuesday announced that its affiliate company TLC Holdings had won a $150 million bid for the assets of top US healthcare group Tender Loving Care.
The deal, carried out through First Islamic's wholly-owned US subsidiary, Crescent Capital, is expected to be closed within the next few months.
Atif Abdulmalik, the bank's chief executive, said, "TLC is ideally positioned to capitalize on several of the dominant trends in the US, namely, an ageing population and an increasing focus on health and well-being."
With headquarters in the Kingdom of Bahrain and offices in Atlanta and London, First Islamic's three principal lines of business are corporate investment, real estate and asset-based investment. (menareport.com)
© 2004 Mena Report (www.menareport.com)
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