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Dallah Healthcare acquires 8% stake in International Medical Center

Dallah Healthcare acquires 8% stake in International Medical Center
The deal is part of Dallah’s plan to buy over 25% of International Medical Center
DALLAH HEALTH
4004
0.68% 74.40 0.50

Riyadh – MubasherDallah Healthcare Company has inked an agreement to acquire 8.2% of International Medical Center in Jeddah in exchange for SAR 289 million. 

The agreement is part of Dallah’s plan to buy over 25% of International Medical Center Co, according to a bourse filing on Thursday. 

The transaction has a positive financial impact on Dallah Healthcare’s profitability through its share of profit of the targeted company and its dividends. 

It is noteworthy to mention that for the last three years, International Medical Center has recorded revenues of SAR 1.2 billion annually.