IHC acquires 40% stake in Response Plus Medical Services (RPM)
International Holding Company PJSC (ADX: IHC), one of Abu Dhabi’s leading conglomerates, has acquired 40% stake in Response Plus Medical Services (RPM) through one of its subsidiaries.
RPM was established in 2010 and has become one of the UAE’s largest provider of on-site healthcare management and medical emergency transfers from remote work sites. It provides medical support for oil and gas sector, chemical industries, construction sites, site clinics and ambulance services. In 2019, RPM established a presence in Saudi Arabia and Oman and has further strategic plans to expand across the GCC and Africa (Ghana and Nigeria) and India over the next five years. RPM now operates more than 200 site clinics as well as the largest fleet of ambulances in UAE. RPM is a unit of VPS Healthcare Group of Companies
Syed Basar Shueb, CEO and Managing Director of IHC, said: “IHC has a mission to transform healthcare and this acquisition expands our reach, scale and expertise to pursue our commitment on a truly regional and international level. RPM had more than 2 million people visit their 200 site clinics in 2020. With our own primary and secondary care companies and clinics, we will be able to create considerable synergy and support a significant push into the GCC and Africa in the next five years where this type of on-site healthcare management and medical emergency transfers is needed.”
Dr. Shamsheer Vayalil, Chairman and Managing Director VPS Healthcare, RPM’s parent company, said: “In over a decade, we have built RPM into a trusted and reliable brand. Our strength and presence have grown such that we are capable of handling on-site healthcare management and medical emergency transfers throughout the Middle East. IHC shares these values, and we firmly believe that this strategic partnership will benefit both of us. Combining the strengths and visions of both entities, we look forward to making a meaningful difference in today’s complex healthcare landscape.”
Over the last six months, IHC and its subsidiaries announced the pre-launch of the UAE’s first virtual wellness and prevention platform, HealthU; investments in UK-based DNA sequencing firm Oxford Nanopore Technologies, Quantlase Lab and Tamouh Healthcare, which recently developed the concept of Containerized Aid for Respiratory Emergencies (CARE), turning modular containers into fully equipped medical field hospitals such as – Sheikh Mohammed Bin Zayed Field Hospital – was completed in early March near Darfur, Sudan.
International Holding Company
IHC was founded in 1998, as part of an initiative to diversify and grow non-oil business sectors in the UAE. Adhering to ‘Abu Dhabi’s Vision 2030’, the ADX listed company endeavours to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates.
IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 30 entities, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Real Estate, Agriculture, Healthcare, Food and Beverage, Utilities, Industries, IT and Communications, Retail and Leisure, and Capital.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate