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LONDON/DUBAI — Healthcare provider Al Noor Hospitals Group, which agreed to combine operations with Mediclinic International earlier this month, said VPS Healthcare had emerged as another potential suitor for its business.

VPS had made a “highly preliminary indication of interest” and had until 5pm on November 17 to make a more binding bid, Al Noor said on Tuesday.

Shares of Al Noor were up 2.5% at 8.25am in London.

Abu Dhabi-based VPS operates in the United Arab Emirates (UAE), as well as elsewhere in the Middle East and in India. It has hospitals, pharmaceutical manufacturing and pharmacy retail operations.

Al Noor CEO Ronald Lavater was quoted by UAE newspaper The National on Tuesday as saying his company was still firmly committed to Mediclinic’s offer but had a duty to consider counterproposals.

Mediclinic agreed on October 14 to combine with Al Noor to create the biggest private healthcare provider in the United Arab Emirates (UAE).

The £1.5bn 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.

Abu Dhabi-based, London-listed NMC Health, whose earlier offer Al Noor rejected in favour of the Mediclinic deal, said that day that it would continue to pursue Al Noor.

Bloomberg, with Reuters and staff writer