Mouwasat completes Jeddah Doctors' capital increase procedures, 51% stake acquisition

One of Mouwasat Medical Services Co.’s hospitals

Mouwasat Medical Services Co. announced completing the regulatory procedures related to raising Jeddah Doctors Co.’s capital, as well as acquiring 51% of the latter for SAR 102 million, according to a bourse statement.

The deal includes the management and operation of Jeddah Doctors, which owns an under-construction hospital carrying the same name.

The relevant financial impact will be reflected in Mouwasat’s Q3 2022 financials, the statement added.

On June 30, Mouwasat signed a final agreement to purchase 51% shares, including management and operation, in Jeddah Doctors Co., at a value of SAR 102 million, according to data available with Argaam.

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