Care Expands Health Services with Acquisition of Riyadh's Al Salam Hospital

Care Expands Health Services with Acquisition of Riyadh's Al Salam Hospital

By Staff Writer, 25 June 2024

The National Medical Care Company (Care) has entered into an agreement with the Saudi Medical Care Group to acquire Al Salam Health Medical Hospital for 44 million Saudi riyals ($11.74 million). This strategic acquisition aligns with Care’s objective to broaden its investment footprint in the health services sector.

The completion of the transaction is contingent upon fulfilling several conditions, including obtaining regulatory approvals and clearance from the Saudi competition authority as well as the company’s general assembly.

Al Salam Health Medical Hospital, a multi-specialty facility located in Riyadh, boasts a capacity of 100 beds and recorded a revenue of SAR 93 million in 2023.

Care has appointed GIB Capital as its financial advisor and Alsalloum and Altoaimi as legal advisors to oversee the transaction. The medical provider will provide updates on the transaction’s completion or any significant developments as they occur.

Source: Seban Scaria / Zawya

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