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Health fund sells stake in Al Faqih for 498M riyals
Dallah Health Company has completed a transaction to sell its 31.21% stake in Dr. Mohammed bin Rashed Al Faqeeh and Partners to Faqeeh Medical Company for approximately 498 million Saudi Riyals. The deal aims to strengthen Dallah's investment portfolio, improve its financial position, and enhance its cash liquidity. The company plans to use the proceeds to reduce existing credit facilities and boost its leverage. The company does not anticipate a significant negative impact on its future profits, as the sold entity contributed minimally to the company's earnings previously. The transaction was executed in accordance with regulatory requirements and in coordination with relevant authorities. Dallah Health is one of the largest healthcare providers in the Kingdom, operating an extensive network of hospitals and clinics, with over 3.8 million visits annually.
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