Riyadh – Mubasher: National Medical Care Company (NMC) penned a SAR 44 million deal with Saudi Medical Care Group to acquire the entire share capital of Al Salam Health Medical Hospital.

The two entities inked the purchase agreement on 23 June 2024, according to a bourse filing.

The listed company highlighted that the purchase price shall be paid fully in cash through internal sources and bank loans.

The transaction aligns with NMC’s investment strategy to expand in the health services sector and leverage the growth opportunities available in the relevant market.

Meanwhile, the financial impact will appear after the completion of regulatory procedures.

Al Salam Health is a multi-specialty hospital located in Riyadh, with a licensed capacity of 100 beds.

Last April, NMC was awarded a SAR 380.92 million project contract with Prince Sultan Military Medical City.