Riyadh – Mubasher: Saudi Arabia-based National Medical Care Co on Sunday denied news circulated on social media about selling one of its subsidiaries.

The firm stated that there were no negotiations regarding this transaction, according to a statement to the Saudi Stock Exchange (Tadawul).

National Medical Care further noted that it will announce any updates on Tadawul.

The operator of private hospitals in the kingdom last reported a decline of 57.6% in profits during the third quarter of 2018, logging SAR 11.44 million, compared to SAR 27 million in the same period a year ago.

From January to September 2018, the company posted a drop of 7.6% in profits to SAR 57.31 million, from SAR 62.04 million in the prior-year period.

By 12:02 Saudi time, National Medical Care Co’s stock remained unchanged at SAR 45.