Dallah Healthcare appoints Samba Capital to advise on Erfan and Bagedo hospital acquisition

Dallah Healthcare Holding Co. has appointed Samba Capital to advise and arrange for the potential acquisition of Erfan and Bagedo hospital in Jeddah after Dallah signed a memo of understanding with the owners of the hospital, the company said in a statement.

Dallah will pay for the acquisition in cash and in new shares issued by Dallah to the sellers, according to the memo which will expire on Dec 31, 2014.

Dallah, which operates, manages and maintains health complexes, will complete due diligence and agrees on details of the final agreement which includes the number of shares that Dallah will issue for the sellers before the memo expires on Dec 31.

The company will call for an extraordinary general assembly meeting to vote on the new share issue. The acquisition will be final only after getting the necessary general assembly and government regulatory approvals.

Erfan and Bagedo hospital has a capacity of 326 beds and was founded in 1981. END