Dubai’s Amanat acquires 13% stake in Saudi International Medical Company

Dubai-listed Amanat Holdings PSJC, an integrated healthcare and education company, has acquired a 13.18 percent stake in Saudi Arabia’s International Medical Company (IMC) for SAR 363.85 million, Amanat said on Tuesday. 

IMC is a 300-bed, multi-disciplinary hospital that serves Saudi Arabia’s Western Region. More than 150 American, Canadian, and European healthcare professionals deliver medical services in more than 30 specialties.

“Amanat believes that Saudi Arabia’s socio-demographic outlook, as well as regulatory changes expected to expand the role of private hospitals, will continue to create opportunities for market leading providers like IMC.” Khaldoun Haj Hassan, chief executive officer of Amanat said.

IMC is currently planning to expand capacity at its current facility and the Saudi Western Region over the next five years, due to high demand for its services.