Hogan Lovells advises on the sale of AS Group to CareTech International
Dubai, 31 December 2019 – Global law firm Hogan Lovells is pleased to announce that it recently advised the shareholders of AS Group, the largest provider of private outpatient mental health services in the United Arab Emirates on an investment made by CareTech International Ltd, a wholly owned subsidiary of CareTech Holdings PLC (AIM: CTH), a pioneering provider of specialist social care and education services.
Under the terms of the agreement, CareTech will own a 51% interest in the AS Group which holds a majority equity interest in an out-patient facility in Abu Dhabi and a mental health outpatient group of clinics in Dubai and Abu Dhabi.
AS Group was established in 2015 by Shafqat Malik to introduce best in class mental healthcare services in the Middle East and North Africa region. The group has an agreement with a leading NHS Foundation Trust Hospital in UK in the mental healthcare arena for the provision of services in the greater Middle Eastern area.
Imtiaz Shah, Head of Corporate for Hogan Lovells in the Middle East, said: “We are delighted to have been able to assist the shareholders of AS Group on this transaction. The UAE is an attractive market for foreign investors in healthcare because the need for improved capacity and expertise in specialist social care, special education needs and mental health services has been recognized and is expected to receive significant focus in the coming years.”
The Hogan Lovells team was led by Imtiaz Shah (Partner, Dubai) with support from Robbie Nakarmi (Associate, Dubai) and Ashley Connick (Associate, Dubai)