Tibbiyah inks conditional SPA to acquire 49% stake in NephroCare Health

This will constitute a partnership between Tibbiyah and NephroPlus in the field of renal care. Accordingly, the joint venture will not incorporate a new company as previously announced, Tibbiyah said in a statement to Tadawul. 

The acquisition value stands at SAR 279,829. The agreement was signed with NephroCare Health Services International Pte Ltd-Singapore, and the guarantor is NephroCare Health Services Ltd.-India. 

The agreement is subject to several conditions, including obtaining all required regulatory approvals within the Kingdom, in addition to other commercial and regulatory conditions.

The deal will be financed from the company’s internal resources, the statement added, indicating that the business consists of operating dialysis centers that provide comprehensive care for chronic kidney failure patients. This includes running fully equipped dialysis facilities, delivering high-quality dialysis sessions, and providing end-to-end patient management through nursing, medical, and support services, applying best practices to ensure safety and quality of care.

NephroCare was established on Jan. 4, 2023. It did not record revenues in 2023 and posted SAR 160,000 in 2024.

Tibbiyah further stated that it is pursuing this transaction to advance its partnership with NephroPlus, the largest dialysis network in Asia and the world’s seventh largest, known for its high-quality operating model and integrated dialysis services. This partnership enables Tibbiyah to introduce a proven global model into the Saudi market, improve care quality and patient outcomes, and strengthen its position in a rapidly growing healthcare segment.

The financial impact of the deal is expected to start from 2026-end, the company said, confirming that no related parties are included in the deal.

According to data available on Argaam, in September 2023, Tibbiyah entered into a definitive joint venture agreement with NephroCare Health and its affiliates. Under the agreement, a limited liability company for dialysis care services was to be established in the Kingdom. It would be 49% owned by Tibbiyah, while NephroPlus will hold the remaining 51%. The new company would provide dialysis care services by investing, operating, managing and maintaining hospital departments, medical centers and clinics specializing in dialysis care services in the public and private sectors.