Mubadala Health and Mumtalakat jointly explore establishing a long-term care facility in Bahrain

Press release

Published November 2nd, 2022 - 07:06 GMT

Mubadala Health and Mumtalakat jointly explore establishing a long-term care facility in Bahrain

During the event

Highlights

Mubadala Health and Mumtalakat look to broaden healthcare outreach to patients in the region

Mubadala Health, the integrated health network of Mubadala Investment Company (“Mubadala”), the Abu Dhabi-based sovereign investor, and Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, are exploring a potential joint venture to set up a long-term care and post-acute rehabilitation facility in Bahrain that will be operated by Amana Healthcare, a Mubadala Health Partner.

The proposed facility will bring Mubadala Health’s renowned expertise in the field of post-acute health services to the Kingdom of Bahrain to provide the highest quality of treatment to the currently underserved patients requiring long-term care. Patients with complex medical needs will now be able to receive long-term care and post-acute rehabilitation. The offering of these services within a specialized facility will also alleviate the pressure on the healthcare system by freeing up bed capacity in acute hospitals across the Kingdom.

Commenting on the announcement, H.E. Khalid Al Rumaihi, Chief Executive Officer of Mumtalakat, said: "Our strategic collaboration with Mubadala Health is promising as we share the same level of commitment to building long-term, sustainable partnerships that are aligned with the investment principles and values of our respective organisations.

“We are committed to investing in Bahrain and supporting the economic growth in the Kingdom by focusing on key economic sectors including healthcare. Our collaboration with Mubadala Health allows us to explore developing a key healthcare facility that will address a gap and add value to the current Bahrain healthcare ecosystem,” he added.

Hasan Al Nowais, Chief Executive Officer of Mubadala Health commented: “The collaboration will bring Mubadala Health closer in achieving its vision of transforming the regional healthcare landscape. Providing high-quality care to our patients is at the core of everything we do. It is, therefore, a privilege to have the opportunity to share and provide our expertise and knowledge to patients in the wider region, and who are currently underserved in this field.”

Background Information

Mumtalakat

It all started in 2005 at an economic reform workshop held under the patronage of the Crown Prince of Bahrain. Open to participants from ministries and government entities in addition to representatives within the private sector, the workshop focused on enhancing the private sector’s role in future economic growth in the Kingdom. There, a vision was launched to form the basis for the next phase of the national economic reform initiative.

From this dialogue, eight public and private committees were formed, tasked to identify areas for the development of the nation’s companies, its investment environment, economic growth and others.