Care’s shareholders OK acquiring Chronic Care for SAR 193.2 mln

Logo of National Medical Care Co. (Care) 

Shareholders of National Medical Care Co. (Care) approved the acquisition of 100% of Chronic Care Specialized Medical Hospital, a subsidiary of the Saudi Medical Care Group, during the ordinary general meeting (OGM) held on Nov. 6.

The value of the deal amounts to SAR 193.2 million, and it will take place on commercial grounds without preferential conditions, the company said.

Care board members Saad Al-Fadli, Ahmed Al-Qahtani, and Farrag Al-Qabbani have indirect interests in the transaction as they also serve on the boards of the Saudi Medical Care Group and the Chronic Care Specialized Medical Hospital.

In Sept. 2023, Care signed a share purchase agreement with the Saudi Medical Care Group to acquire all shares in Chronic Care Specialized Medical Hospital, according to data available on Argaam.

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