Mediclinic set to clinch deal with Al Noor as VPS drops out

South Africa’s Mediclinic looks set to clinch its deal with Emirates-based healthcare provider Al Noor Hospitals after Abu Dhabi-based VPS Healthcare said on Monday that it does not intend to make an offer for the company.

On 20 October, Al Noor announced that it had received a preliminary indication of interest from VPS.

However, after a thorough assessment of the opportunity, VPS has concluded the potential transaction would not be in the best interests of the company and accordingly confirmed that it does not intend to make an offer for Al Noor.

Al Noor has already agreed a £1.4bn deal with Mediclinic, which now looks to be winning the race with both NMC Health and VPS no longer interested.

NMC said earlier this month that it had abandoned its bid for Al Noor as the transaction “would not deliver sufficient returns or shareholder value”.