Al Noor Attracts Interest From VPS After Accord With Mediclinic

Health-care provider Al Noor Hospitals Group Plc, which agreed to combine operations with Mediclinic International Ltd. earlier this month, said VPS Healthcare has emerged as another potential suitor for its business.

VPS made a “highly preliminary indication of interest” and has until 5 p.m. on Nov. 17 to make a more binding bid, Al Noor said in a statement on Tuesday. Shares of Al Noor jumped 2.5 percent in London trading as of 8:27 a.m. local time.

Mediclinic agreed to combine with Al Noor to create the biggest private health-care provider in the United Arab Emirates on Oct. 14. The 1.5 billion-pound ($2.3 billion) transaction would involve a reverse takeover that gives Johannesburg-based Mediclinic’s shareholders a majority stake in the combined operations, the companies said at that time.

That day, rival NMC Health Plc vowed to keep pursuing Al Noor.

Before it's here, it's on the Bloomberg Terminal.