Global alternative investment firm Arcapita and sovereign wealth fund Bahrain Mumtalakat have acquired a 90 per cent stake in Abu Dhabi-headquartered outsourced health insurance processing services provider NAS United Healthcare Services.
“The global wellness and healthcare sectors are core focus areas for us; Arcapita’s management has made a number of successful investments in these sectors in the past. NAS is a regional market leader with a strong technology backbone and highly scalable business model,” said Arcapita CEO Atif A Abdulmalik in a statement issued on Wednesday.
The financial details of the deal were not disclosed.
He said, the company is positioned to take advantage of the growth in the market for outsourced medical claims management in the GCC region. The demand for such services provided by NAS is expected to grow in line with the growth of the healthcare insurance market in the GCC region.
This joint investment between Mumtalakat and Arcapita is in line with the former’s financial services and healthcare investment strategies.
NAS, that claims to be a regional leader in the provision of third-party administrator services to more than 40 health insurance and takaful companies in the Arabian Gulf (GCC) region, provides its customers a comprehensive network of more than 7,200 healthcare providers across the GCC region, the Middle East and India.
The market for outsourced medical claims management in the GCC region is expected to grow significantly as more countries are expected to introduce compulsory health insurance for their expatriate populations as well as higher healthcare spending resulting from the general improvement in the quality of healthcare treatments available in the region.
Global population trends indicate the importance of increased healthcare solutions and by extension, health insurance services, according to Mumtalakat CEO Mahmood Hashem Alkooheji.