Fakeeh Care outlines parties in 50.01% Diagnostics Elite acquisition

Fakeeh Care clarified the parties and ownership structure involved in its acquisition of a 50.01% stake in Diagnostics Elite

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) said its acquisition of Diagnostics Elite Co. involves the company as the buyer and Fakeeh Real Estate Co. as the seller, according to a statement to Tadawul.

Diagnostics Elite’s current shareholders are Fakeeh Real Estate, which owns 30,510 of the company’s 61,000 issued shares (50.01% of capital), and six founding radiology consultants, who collectively hold 30,494 shares (49.99%).

Those founders are Ahmed Abduljabbar, Amr Ajlan, Ayman Eskandar, Mohammad Wazzan, Khalid Khashoggi, and Turki Alhazmi.

On Dec. 2, Fakeeh Care acquired a 50.01% stake in Diagnostics Elite, a Saudi-based teleradiology and imaging services provider, for SAR 70 million, including the purchase consideration and capital contribution, according to Argaam data.

Fakeeh Care will purchase 30,506 shares, representing 50.01% of Diagnostics Elite’s issued capital, from Soliman Abdel Kader Fakeeh Real Estate Co. Ltd., which is 0.01%-owned by Fakeeh Care Group. The seller will not realize a profit from the transaction. The remaining 49.99% will continue to be held by the company’s founding shareholders.