In a move that strengthens its foothold in the health and wellness sector, Palms Sports, a leading sports management firm headquartered in Abu Dhabi, has acquired an 80% stake in Yas Physiotherapy Center. The acquisition, announced on the Abu Dhabi Securities Exchange (ADX), underscores Palms Sports' commitment to diversifying its offerings beyond just sports training.
Yas Physiotherapy Center, a well-established clinic in the UAE capital, specializes in musculoskeletal and sports injury treatment and rehabilitation. This strategic acquisition allows Palms Sports to integrate specialized physical therapy services into its existing portfolio, creating a more comprehensive client experience.
The financial details of the acquisition have not been disclosed by Palms Sports, a subsidiary of the International Holding Company (IHC). However, industry analysts believe the move is a win-win for both parties. Palms Sports gains a strong presence in the growing physiotherapy market, while Yas Physiotherapy benefits from Palms Sports' extensive network and resources.
"By integrating a specialized physical therapy clinic into our operations, we will offer a more comprehensive suite of services to our stakeholders and partners, " said Fouad Darwish, CEO of Palms Sports. This acquisition aligns with the company's long-term strategy to expand its investments into new and emerging markets.
The acquisition is expected to benefit not only professional athletes but also recreational sports enthusiasts and individuals seeking treatment for chronic musculoskeletal conditions. Yas Physiotherapy offers a range of non-surgical treatment options, including manual therapy, exercise therapy, and electrotherapy. The clinic also provides pre- and post-surgical rehabilitation services, ensuring a smooth recovery process for patients.
Analysts believe that Palms Sports' expansion into physiotherapy reflects a growing trend in the sports industry. As the focus on athlete health and well-being intensifies, sports management firms are increasingly looking to incorporate ancillary services such as physiotherapy into their core offerings. This integrated approach allows athletes to receive a more holistic range of care, optimizing their performance and recovery.
The acquisition of Yas Physiotherapy is a significant development for Palms Sports, marking its entry into a new domain within the health and wellness sector. With its combined expertise in sports management and physiotherapy, Palms Sports is well-positioned to cater to the evolving needs of its clients in the UAE and beyond.