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Report: Abu Dhabi sovereign fund in advanced talks to buy Amana Healthcare

Abu Dhabi's Mubadala Investment Co. is in advanced discussions to acquire Amana Healthcare, a privately held hospital operator in the United Arab Emirates, Bloomberg News reported, citing people with knowledge of the matter.

The sovereign wealth fund's healthcare unit joins other large healthcare providers and investors interested in Amana, which operates in the cities of Abu Dhabi and Al Ain, according to the sources.

In 2016, Amana tapped Bank of America Corp. to work on the transaction, Bloomberg noted. The deal could value the company at about $400 million and is expected to close by 2018-end.

Mandatory health insurance for foreigners living in the Middle East has driven up demand for private healthcare and has attracted global investors, the report added.