Fakeeh Care says Riyadh expansion among strategic objectives

Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) is actively pursuing expansions, and the potential acquisition currently under discussion aligns with the company’s strategic goals, said Ayman Asaad Abdo, Senior Vice President and board member.

Fakeeh Care is constantly exploring opportunities for collaboration or partnerships with other entities, he told Argaam in an interview on the sidelines of the Global Health Exhibition 2025.

The group has a strong presence in the Western Province, particularly in Jeddah, where it operates a flagship hospital and four major medical centers. This is in addition to other hospitals in Madinah and Riyadh, as well as managing the NEOM Hospital.

The group’s ongoing negotiations to acquire a majority stake in Mohammed bin Rashid Al Fakeeh Co. are still in the early stages. Any material developments will be disclosed to the public once an agreement is reached with potential sellers.

Abdo described Mohammed Rashid Al Fakeeh Hospital as a distinguished facility in terms of quality, noting that acquiring a majority stake would represent a significant milestone for the group.

Fakeeh Care typically funds its expansion projects through internal resources or bank loans, as the scale of this acquisition may require bank financing alongside internal funding.

The expected relevant financial impact would be positive, given the profitability of the target hospital, though the exact magnitude of the impact could only be determined after the deal is completed.