Qomel inks deal to acquire 75% of Kan Medical for SAR 3M

Qomel said that the transaction to acquire a 75% stake in Kan Medical will be financed through its internal resources.

Qomel Co. signed, on March 16, an agreement with Mohammed Al-Mutairi the owner of the company’s share capital to acquire a 75% stake in Kan Medical Co., a limited liability sole proprietorship, for a value of SAR 3 million.

In a statement to Tadawul, the company said that the transaction will be financed through its internal resources, noting that Kan Medical is a manufacturer of medical devices.

The audited financial statements are not available for the past three years, as the company is newly established in the Saudi market, the statement added.

The transaction comes to achieve the company’s strategic objectives aimed at strengthening its presence in the medical devices sector, as well as expanding Qomel business base by leveraging the growing opportunities in the sector in line with the company’s strategic plans.

The financial impact of this transaction is expected to be reflected in H2 2026, the Saudi-listed company said, noting that there are no related parties included in the deal.