Care completes procedures to acquire Chronic Care Specialized Medical Hospital

National Medical Care Co. (Care) completed, on Nov. 23, procedures to acquire the entire share capital of Chronic Care Specialized Medical Hospital Co.

The procedures have been completed following the satisfaction of the conditions precedent stipulated in the Agreement including obtaining approvals from the relevant authorities, the company said in a statement on Tadawul.

The purchase price will be settled in accordance with the completion accounts mechanisms under the agreement and through Care’s internal sources and bank loan, the statement added.

The financial impact of the transaction will be visible in Q4 2023.

Source : Argaam