Dallah Healthcare completes Care Shield acquisition

Dallah Healthcare Co. has completed the acquisition of Growth Avenue Investment Co.’s shares in Care Shield Holding Co., according to two separate statements by Dallah Healthcare Co. and Maharah Human Resources Co. to Tadawul.

Growth Avenue is a subsidiary of Maharah Human Resources Co.

All terms related to the transfer of ownership of Growth Avenue’s shares in Care Shield were fulfilled in the shareholders’ register, and Dallah issued a check for the cash consideration in favor of Growth Avenue, Dallah and Maharah said in two separate statements to Tadawul.

Dallah signed a non-binding memorandum of understanding (MoU) with Growth Avenue on Oct. 26 to purchase its entire 41.36% stake in Care Shield. It then extended this MoU until Dec. 21, 2025, under the same previous terms and conditions.

The company signed an agreement on Dec. 18 to acquire all shares held by Growth Avenue in Care Shield (Kingdom Hospital and Consulting Clinics) for SAR 434.3 million, according to Argaam data.