Care’s shareholders to vote on acquiring entire stake in Chronic Care on Nov. 6

Logo of National Medical Care Co.

Shareholders of National Medical Care Co. (Care) will vote on the acquisition of 100% of Chronic Care Specialized Medical Hospital, a subsidiary of the Saudi Medical Care Group, during the ordinary general meeting (OGM) on Nov. 6.

The value of the deal amounts to SAR 193.2 million, and it will take place on commercial grounds without preferential conditions, the company said.

The members of the board, namely Saad bin Abdul Mohsen Al-Fadli, Ahmed bin Waza’ Al-Qahtani, and Farrag bin Saad Al-Qabbani, have indirect interests in the deal, being members of Care’s board and members of the board of both the Saudi Medical Care Group and the Chronic Care Specialized Medical Hospital.

In Sept. 2023, Care signed a share purchase agreement with the Saudi Medical Care Group to acquire all shares in Chronic Care Specialized Medical Hospital, according to data available on Argaam.

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