Dallah to fully acquire Bagedo & Dr. Erfan Hospital Company

Dallah Health signed agreement yesterday to acquire the full shares of Bagedo & Dr. Erfan General Hospital Company for SAR 750 million on a 100 percent equity basis, a filing to Tadawul said.

The company said it will issue 7,471,980 new shares to the sellers of stakes in Dallah Health, plus a cash consideration of SAR 150 million, 20 percent of total price.

Dallah said the cash will be paid from its internal cash flow.

The capital increase raises the number of Dallah Health’s issued shares from 47,200,000 to 54,671,980 -- with a total market value of SAR 5.883 billion.

After completion of the deal, the combined shareholding of the sellers in Dallah Health will be 13.67 percent and Dallah Health's shareholding in the target hospital will be 100 percent, the filing said.