Palms Sports Expands Into Healthcare With Acquisition Of Yas Physiotherapy Center
Abu Dhabi's Palms Sports, a leading sports management firm, has recently announced its acquisition of an 80% stake in Yas Physiotherapy Center in Abu Dhabi. This strategic move marks a significant expansion for Palms Sports into the healthcare sector, specifically focusing on musculoskeletal and sports injury rehabilitation. The firm, listed on the Abu Dhabi Securities Exchange (ADX), aims to diversify its service offerings through this acquisition.
Yas Physiotherapy Center specializes in the non-surgical treatment of acute injuries, chronic musculoskeletal conditions, and provides pre- and post-surgical rehabilitation. This acquisition enhances Palms Sports’ portfolio by integrating specialized physical therapy services, thereby broadening its health and wellness offerings. Palms Sports, a subsidiary of the International Holding Company (IHC), however, has not disclosed the financial details of this acquisition.
According to Palms Sports CEO, Fouad Darwish, this step is in alignment with the company’s strategy to expand its investments into new segments. “By integrating a specialised physical therapy clinic into our operations, we will offer a more comprehensive suite of services to our stakeholders and partners,” Darwish emphasized. This move not only signifies Palms Sports' entrance into a new vertical but also reflects its commitment to enhancing the quality and range of services available to its clients and stakeholders.
The acquisition of Yas Physiotherapy Center by Palms Sports is a testament to the firm's innovative approach to business expansion and diversification. It showcases the company's dedication to investing in services that contribute to the well-being of the community, further solidifying its position as a diversified sports management firm in Abu Dhabi.
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