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Official Ground Breaking Ceremony for Cleveland Clinic Abu Dhabi
Date:1/29/2008

Work begins to build a world-class hospital in Abu Dhabi

ABU DHABI, UAE, Jan. 29 /PRNewswire/ -- Today Mubadala Development Company (Mubadala) and Cleveland Clinic marked the official ground breaking ceremony of Cleveland Clinic Abu Dhabi (CCAD) hospital. Scheduled to welcome its first patients in early 2011, the world-class hospital will be a 360 bed (scalable to 490), multi-specialty facility located on Al Sowa Island, across from the Abu Dhabi Mall.

Cleveland Clinic Abu Dhabi is one of a number of initiatives led by Mubadala Healthcare, the division of Mubadala dedicated to investment in strategic, high value and economically sustainable projects that meaningfully enhance the private healthcare infrastructure of Abu Dhabi and the United Arab Emirates.

The hospital will be a unique and unparalleled extension of the Cleveland Clinic model, providing a spectrum of specialty services that are designed to cater to the healthcare needs of Abu Dhabi and the region. One of the objectives of CCAD is to address the needs of patients currently traveling abroad for treatment.

Like its counterpart in the United States, CCAD will be a physician-led medical facility served by U.S. trained and board certified physicians. It will provide a number of career opportunities, and the medical professionals will receive ongoing training directly from Cleveland Clinic.

CCAD will offer the most advanced tertiary/quaternary medical services in the region through a comprehensive range of specialties and subspecialties. Local and international patients will be cared for in an environment combining excellent amenities and service standards with the highest quality patient care and superior clinical outcomes. The hospital is being designed to take advantage of the latest technologies in surgery, imaging, telemedicine and electronic medical records.

"Partnering with one of the largest and most respected hospitals in the United States to develop a world-class facility like CCAD creates a wonderful opportunity to further enhance healthcare in the UAE," said Mark Erhart, Executive Director of Mubadala Healthcare. "CCAD is a vital part of our integrated healthcare network and we are absolutely committed to delivering the highest quality facilities and services to our patients."

"Cleveland Clinic Abu Dhabi will enhance health, wellness and long life for so many," said Delos M. "Toby" Cosgrove, President and CEO, Cleveland Clinic. "Cleveland Clinic Abu Dhabi will combine the best of American medicine with the style and energy of this incredible city and nation."

Since the signing of the agreement in September 2006, appropriate studies were completed and the partners appointed San Francisco-based architecture firm, HDR to design the hospital and ALDAR Properties to build this state-of- the-art facility.

Notes to Editors

*Photo of CCAD ground breaking available upon request.

*Image of CCAD architectural rending available upon request.

About Cleveland Clinic

Cleveland Clinic, located in Cleveland, Ohio, is a not-for-profit multispecialty academic medical center that integrates clinical and hospital care with research and education. Cleveland Clinic was founded in 1921 by four renowned physicians with a vision of providing outstanding patient care based upon the principles of cooperation, compassion and innovation. U.S. News & World Report consistently names Cleveland Clinic as one of the nation's best hospitals in its annual "America's Best Hospitals" survey. Approximately 1,800 full-time salaried physicians and researchers at Cleveland Clinic and Cleveland Clinic Florida represent more than 100 medical specialties and subspecialties. In 2006, there were 3.1 million outpatient visits to Cleveland Clinic. Patients came for treatment from every state and from more than 80 countries. There were more than 53,000 hospital admissions to Cleveland Clinic in 2006. Cleveland Clinic's Web site address is http://www.clevelandclinic.org.

About Mubadala Development Company

Located in the capital of the United Arab Emirates (UAE), Mubadala Development Company (Mubadala) is an investment firm that is helping to diversify Abu Dhabi's economy through capital intensive investments and by building businesses.

Our mandate is the establishment of new companies and the acquisition of strategic holdings in existing companies, either in the UAE or abroad. Mubadala focuses on generating sustainable economic benefits through a careful selection of business ventures -- in partnership with local, regional and international investors. Mubadala invests in a wide range of strategic sectors including energy, utilities, real estate, public-private partnerships, basic industries and services so as to diversify and further develop the rapidly growing economy of Abu Dhabi, while achieving superior returns on its investments.

At the same time, Mubadala constantly benchmarks its activities and methods to the best-in-class, striving to develop its management team to its full potential and adding fresh and promising talent wherever possible.

About Mubadala Healthcare

Mubadala Healthcare, a division of Mubadala Development Company, is specifically dedicated to investment in strategic, high value and economically sustainable projects that meaningfully enhance the private healthcare infrastructure of Abu Dhabi and the UAE.

Mubadala Healthcare's investment focus includes patient care delivery and ancillary services, biotechnology, medical equipment and device manufacturing, and pharmaceuticals. In line with Mubadala Development's vision and mission, we evaluate potential projects on both their likely commercial returns as well as on their socio-economic impact, with a view to making substantial contributions to the quality of life in Abu Dhabi and the UAE.

Working with best-in-class clinical operating partners from around the world, Mubadala Healthcare is actively investing in carefully chosen projects in order to achieve this objective.

Together, these projects will form a vertically integrated healthcare delivery network that is supported by state-of-the-art IT systems and medical technologies to provide a seamless and high quality patient experience.

As well as improved healthcare, wellbeing and productivity, this new healthcare infrastructure will also encompass further economic diversification and job opportunities for the Emirate's people.

Some of our current and upcoming healthcare projects:

Imperial College London Diabetes Center -- a center of excellence specializing in diabetes treatment, research, training and education; opened in 2006

Abu Dhabi Knee & Sports Medicine Center -- the first healthcare facility in the Middle East to specialize in the diagnosis and treatment of patients with knee and sports-related injuries; opened in 2007

Molecular Imaging Center -- a specialist molecular imaging facility including PET-CT and Cyclotron, located on the Tawam Hospital Campus, Al-Ain city; due to open in early 2009

Minhaal -- the first dual-language online resource providing accurate and up-to-date medical information in both English and Arabic; launched in January 2008; http://www.minhaal.com

National Reference Lab -- a fully automated reference laboratory providing services to public and private health providers in Abu Dhabi and the UAE; will revolutionize laboratory testing in the UAE; due to open in late 2008

Sports City Medical & Diagnostic Center -- a multi-specialty centre providing a range of medical specialties as well as advanced diagnostic imaging; located at Zayed Sports City in Abu Dhabi and due to open in mid 2009


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SOURCE Cleveland Clinic
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