Dallah acquires 78.6% stake in Makkah Medical Center for SAR 161.1 mln

Dallah Healthcare Co. (DHC) completed the acquisition of 78.59% stake in Makkah Medical Center Co. for SAR 161.1 million, the company said in a bourse filing today, Dec. 22.

All the shares of the selling shareholders were transferred to DHC. Accordingly, DHC's total ownership in Makkah Medical Center reached 86.1%.

There are no related parties.

DHC is also looking at purchasing the remaining shares in the future, the statement noted.

The company signed, on June 29, the final agreement to acquire the stake, representing 2.38 million shares, in Makkah Medical Center Co.

The completion of the stake acquisition is part of DHC's expansion plan to provide premium medical service.

Makkah Medical Center Hospital, owned by Makkah Medical Center Co., has a capacity of 120 beds and 40 clinics, with a possibility of future expansion.