PHOTO
Abu Dhabi-listed sports management firm Palms Sports has acquired 80% stake in Yas Physiotherapy Center, a musculoskeletal and sports injury treatment and rehabilitation clinic in the UAE capital.
The acquisition is in line with the company’s strategy to diversify and expand its investments into new segments and verticals, a statement on the Abu Dhabi Securities Exchange (ADX) said.
The sports training provider, which is a subsidiary of International Holding Company (IHC), did not disclose the value of the transaction.
Yas Physiotherapy Center provides non-surgical treatment for acute injuries, chronic musculoskeletal conditions, as well as pre- and post-surgical rehabilitation.
“By integrating a specialised physical therapy clinic into our operations, we will offer a more comprehensive suite of services to our stakeholders and partners,“ noted Fouad Darwish, CEO of Palms Sports.
(Writing by Cleofe Maceda; editing by Seban Scaria)
