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Dr. Soliman Abdel Kader Fakeeh Hospital Co. Announces an update on Dr. Soliman Abdel Kader Fakeeh Hospital Company announces the latest development regarding its signing of a binding Share Purchase Agreement to acquire 100% of the Target Company, being the issuance of non-objection of the General Authority for Competition.
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement made by Dr. Soliman Abdel Kader Fakeeh Hospital Company (the “Company”), which was published on the Saudi Stock Exchange's (Tadawul) website on 28/12/1447H (corresponding to 14/06/2026G) regarding the issuance of the non-objection certificate from the General Authority for Competition in respect of the acquisition of the entire share capital of Dr. Mohammed Bin Rashid Al Fagih & Partners Company (the “Target Company”) in exchange for a total cash amount of SAR 1,595,625,000 (the “Transaction”), the Company wishes to announce the completion of its acquisition of the entire share capital of the Target Company. |
| Previous Announcement | Dr. Soliman Abdel Kader Fakeeh Hospital Company announces the latest development regarding its signing of a binding Share Purchase Agreement to acquire 100% of the Target Company, being the issuance of non-objection of the General Authority for Competition. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-06-14 Corresponding to 1447-12-28 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Transaction was completed on Monday 06/02/1448H (corresponding to 20/07/2026G) with the transfer of the entire share capital of the Target Company to the Company in exchange for a total consideration of SAR 1,595,625,000 paid in cash. The consideration includes an amount of SAR 100 million placed in an escrow account for a specified period to cover any potential liabilities following completion of the Transaction. |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The total consideration for the acquisition of 100% of the share capital of the Target Company is a total cash amount of SAR 1,595,625,000. |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | The Transaction resulted in the Company owning 100% of the share capital of the Target Company, which will be consolidated into the Company’s group as a wholly-owned subsidiary. The Target Company is the Company’s second hospital in Riyadh and will materially expand the Company’s group presence in the city. The Transaction diversifies the Company’s payer and patient mix in Riyadh by adding exposure to Cash patients, and Network 6 / Class B insurance, complementing the Group’s existing VIP and high-tier insurance positioning. Over time, the combination is expected to generate operational efficiencies, cost synergies and enhanced revenue opportunities across Fakeeh Care’s network. The Transaction is expected to increase the Company’s consolidated debt levels reflecting both the acquisition financing and the assumption of the Target Company’s existing net debt.. The acquisition increases the Company’s bed presence in Riyadh, combining the Target Company’s 350-bed capacity with the Company’s group existing 185-bed capacity in its existing Riyadh hospital to create a 535-bed two-site cluster in a high-density catchment area. |
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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