National Medical Care Company signed an share purchase agreement to acquire AL Salam Health Medical Hospital from Saudi Medical Care Group for SAR 44 million.

National Medical Care Company (SASE:4005) signed an share purchase agreement to acquire AL Salam Health Medical Hospital from Saudi Medical Care Group for SAR 44 million on June 23, 2024. The Agreement contains customary representations and warranties provided by the Seller and the Purchaser. Furthermore, the completion of the Transaction is subject to a number of conditions, including without limitation, receipt of regulatory approvals or non-objection (including the General Authority for Competition?s non-objection), Purchaser?s general assembly?s consent on the Transaction, the Seller?s general assembly?s consent on the Transaction and other customary conditions.

The purchase price shall be paid fully in cash through internal sources and bank loans. Law Firm of AlSalloum and AlToaimi acted as legal advisor for National Medical Care Company. GIB Capital acted as financial advisors for National Medical Care Company.