Smile Care signs MoU to take over new dental complex

Logo of Basma Adeem Medical Co. (Smile Care)

Basma Adeem Medical Co. (Smile Care) signed a non-binding memorandum of understanding (MoU) with Al-Ajaji Trading Co. to acquire a 100% stake in Fahad Abdullah Al-Ajaji Dental Complex Co., a limited liability firm specialized in dental and dermatology clinics, according to a statement to Tadawul.

The move is part of the company’s strategy to expand its healthcare network and strengthen its presence in the dental and dermatology sectors.

The final acquisition value will be determined following the completion of the financial valuation and the due diligence process (financial and legal), as well as obtaining the required approvals.

The MoU is valid for six months from the date of signing, renewable by mutual agreement, and there is no financial impact at present.

The parties agreed to enter serious negotiations and take all necessary steps to complete the acquisition, including all three branches in Qassim, along with the target company’s assets and liabilities.

The deal will be structured through a mix of cash, issuance of new shares, and deferred payments linked to performance, with a final and binding sale and purchase agreement to be signed after fulfilling regulatory requirements and completing due diligence and valuation satisfactorily.

There are no related parties to the deal, the statement noted, adding that any material developments will be announced in due course.