GAC OKs Care’s full acquisition of Al Salam Health Medical Hospital

03/09/2024 Argaam
Logo ofNational Medical Care Co.

Logo of National Medical Care Co.

The General Authority for Competition (GAC) approved the National Medical Care Co.'s (Care) acquisition of 100% of Al Salam Health Medical Hospital, which is affiliated with the Saudi Medical Care Group.
 

On June 23, Care signed a share purchase agreement with Saudi Medical Care Group to acquire the entire share capital of Al Salam Health Medical Hospital for SAR 44 million, data compiled by Argaam showed.

 

For more news and details on M&As

 

Care’s ordinary general meeting (OGM) is scheduled to vote on the approval of this acquisition on Sept. 18, as board members have indirect interest, since Saad Al-Fadhli is the CEO of Hassana Investment Co., Investment Manager at the General Organization for Social Insurance (GOSI), and owner of Saudi Medical.

 

Al Salam Health Medical Hospital is a multi-specialty, 100-bed facility located in Riyadh. The acquisition value will be paid in cash through the company’s internal sources and bank loans.

 

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