Care completes takeover of Jiwar Medical Services

Logo of National Medical Care Co.  (Care)

National Medical Care Co. (Care) completed the procedures to buy out Jiwar Medical Services Co., according to a statement to Tadawul.

The medical services provider indicated that ownership transfer measures were finalized on June 7, and the acquisition deal was finalized after obtaining the approvals of the competent authorities.

The deal value will be calculated using the completion accounts mechanisms under the agreement and from Care’s internal sources.

Moreover, the deal included no related parties, and the relevant financial impact will appear on financial statements as of Q3 2023.

Jiwar Health Services Co. operates the Jiwar Medical Center, which is a stand-alone emergency department in the central area of the Grand Mosque in Makkah and includes 66 beds. It provides a full range of emergency services, from simple cases to life-saving interventions, to meet the needs of both our customers and pilgrims visiting Makkah each year.

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