Saudi- Dallah Health to acquire full shares of Erfan Hospital at SR1bn
(MENAFN- Arab News) Dallah health holding company will buy full shares of bagedo & dr. erfan general hospital in a deal expected to reach sr1 billion local media said quoting a reliable source at dallah health
A memorandum of understanding (mou) to this effect was recently signed by dallah health with bagedo commercial holding co. and mohamed ahmed erfan & sons holding co. the owners of full shares of bagedo & dr. erfan general hospital
Commenting on the acquisition plan by his company board chairman of dallah health tariq al-qasabi said it comes within its strategic and ambitious plan to expand into the western region notably makkah madinah taif and jeddah
However al-qasabi declined to give any information about the value of the deal adding that certain consulting technical and financial offices have to assess all things related to the hospital
Both parties have agreed that funding of the acquisition deal will come through cash settlement and issuance of new shares of dallah health with the remaining amount to the sellers through capital increase.
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