National Medical Care Company (Care) has finalized an agreement to acquire Al Salam Health Medical Hospital from Saudi Medical Care Group for 44 million Saudi riyals, equivalent to $11.74 million.
The acquisition is part of Care’s strategy to expand its footprint and investment in the health services sector. Al Salam Health Medical Hospital, located in Riyadh, is a well-established multi-specialty facility with a capacity of 100 beds. In 2023, the hospital reported revenues totaling SAR 93 million.
The transaction is contingent upon regulatory approvals, including clearance from the Saudi competition authority and the company’s general assembly.
To facilitate the acquisition, Care has engaged GIB Capital as financial advisor and Alsalloum and Altoaimi as legal advisors.
Care intends to announce the completion of the transaction and any significant developments in due course. This strategic acquisition underscores Care’s commitment to enhancing its presence and capabilities in delivering quality healthcare services in the region.
