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Arabian International Healthcare Holding Co. Announces Purchase 100% of Mohammed Hamad Abdullah Al-Hamad Medical Services Company in the value of 35 Millions Saudi Riyals
| Element List | Explanation |
|---|---|
| Introduction | In reference to the announcement made by Arabian International Healthcare Holding Company "Tibbiyah” on 20/07/2023 pertaining the entrance into a memorandum of understandings to acquire 100% of Mohammed Hamad Abdullah Al-Hamad Medical Services Company
Tibbiyah announces today the signing of a conditional binding share purchase agreement for the acquisition of 100% of Mohammed Hamad Abdullah Al-Hamad Medical Services Company." |
| Transaction Details | Arabian International Healthcare Holding Co. Purchases 100% of Mohammed Hamad Abdullah Al-Hamad Medical Services Company in the value of 35 Millions Saudi Riyals via a conditional binding share purchase agreement. |
| Transaction Value | 35 Millions Saudi Riyals |
| Transaction Terms | The share purchase agreement is subject to a number of necessary conditions and terms before completion, including, but not limited to, obtaining regulatory approvals from relevant authorities within the Kingdom of Saudi Arabia, as well as other regulatory and business-related conditions. |
| Parties of the Transaction | Arabian International Healthcare Holding Company ('Tibbiyah') in its capacity as the buyer. The following parties as the sellers: Mohammed Hamad Abdullah Al-Hamad Suleiman Hamad Abdullah Al-Hamad Abdullah Hamad Abdullah Al-Hamad Fadid Trading and Industrial Investment Company" |
| Transaction Funding Method | It is expected to obtain banking financing from one of the Saudi banks to cover part of the transaction value, with the remainder being paid through the company own resources. |
| Transaction Execution Date | 2024-03-10 Corresponding to 1445-08-29 |
| Description of the Business of the Asset forming the Subject Matter of the Transaction | Established in 1987, Mohammed Hamad Abdullah Al-Hamad Medical Services Company (a Saudi limited liability company) has distinguished itself as a leading provider of medical services in the Kingdom of Saudi Arabia. The company offers cutting-edge technologies in the field of medical equipment, supplies, and comprehensive medical project services. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | The financial data for Mohammed Hamad Abdullah Al-Hamad Medical Services Company for the last three years based on audited financial statements for the years 2020, 2021, and 2022, are as follows: - The revenue for the fiscal year 2022 amounted to 91,571,520Saudi Riyals. - The revenue for the fiscal year 2021 amounted to 82,482,119 Saudi Riyals. - The revenue for the fiscal year 2020 amounted to 127,203,956 Saudi Riyals. |
| Transaction reasons | Increasing the Company market share and expanding into the distribution of medical supplies and consumables in both the public and private sectors as well as providing comprehensive solutions to our clients and diversifying the Company portfolio |
| Expected Impact of the Transaction on the Company and Its Operations | It is expected that the financial impact of this deal will appear by the end of the fiscal year 2024. |
| Related Parties | Not Applicable |
| Additional Information | Arabian International Healthcare Holding Company will announce any significant developments regarding the transaction in accordance with relevant regulations and laws. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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