Capital Raised for Danat Al Emarat Women and Childeren Hospital

Abu Dhabi, UAE; November 18, 2007:  United Eastern Medical Services (UEM) has successfully completed a capital increase of Dh108 million (US$29.5 million) through a private equity placement, raising its share capital to Dhs157.5 million (US$43 million).

The company raised capital as part of its financing initiative to launch its landmark project "Danat Al Emarat Healthcare Complex."

Commenting on this initiative, Mr. Mohammed Ali Al Shorafa, Managing Director & CEO of UEM, said: "UEM is currently undergoing a number of healthcare projects. Construction for the Women & Child Hospital, the debut project of the mother of emirates complex is set to commence in spring 2009."

UEM's flagship project, a Dh650 million (US$176 million) project is set to be the first private medical institution in Abu Dhabi specializing in gynecology, obstetrics and pediatrics. In addition, the hospital will also offer specialized medical clinics including orthopedics, dermatology, and cosmetology as well as elective care clinics such as physiotherapy, lifestyle counseling, nutrition, speech therapy, spa therapy, etc…

The hospital complex is expected to be completed within two years and will be located in the 'Between the Two Bridges' area. The Danat Al Emarat Healthcare Complex will be distinguished from competition through its high service of quality and care. As such, the 260-bed hospital will include 6 'Royal Suites' and 24 'VIP Rooms' with superior amenities.

The hospital will be managed by a leading American international operator that will oversee the hiring of highly qualified full-time consultants and specialists, and will be equipped with state-of-the-art technology.

"The project, named to commemorate the benevolent deeds of H.H Sheikha Fatma bint Mubarak, The Mother of Emirates, and has been endorsed with a moral push from H.H. General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council, who spares no effort in the development of both public and private healthcare sector facilities in Abu Dhabi, at the highest standards." Al Shorafa said.

"UEM is also in the process of developing a specialized nursing institute, which will be compliant with American nursing standards, an acute-care specialized hospital, and a dialysis centre," he added.