Al Noor Hospitals shareholders approve Mediclinic deal

Al Noor Hospitals’ shareholders have approved the Emirates-based healthcare provider’s combination with South Africa’s Mediclinic.

Chief executive Ronald Lavater said: “We are delighted to announce that the combination with Mediclinic has today been approved by Al Noor shareholders.

“This combination creates one of the world's largest acute hospital operators outside the United States with a strong platform for growth, complementary geographies and a shared commitment to providing outstanding patient care.”

Under the terms of the deal announced in October, Al Noor will acquire Mediclinic, with shareholders receiving 0.625 new shares for each Mediclinic share held. The proposed deal will result in Mediclinic shareholders owning 84% - 93% of the enlarged group.

The deal, which is expected to complete in the first quarter of next year, remains subject to regulatory approval.

At 1305 GMT, Al Noor shares were up 0.8% to 1,106p.