Fitaihi’s 19.25%-owned IMC board approves main market listing

Logo of International Medical Center

Fitaihi Holding Group announced that its associate, International Medical Center (IMC) - a closed joint stock company - issued on Sept. 30, the board of directors’ resolution to take the necessary measures to transform IMC into a public joint stock company in the main market.  

Fitaihi said in a bourse statement that IMC operates in the Saudi healthcare sector and owns a 300-bed multi-disciplinary tertiary care hospital. 

This comes in line with the strategy of Fitaihi, which in turn, will contribute to a future positive impact on increasing the return on equity (ROE) of the group's shareholders.  

The company will announce the most important developments in this regard in due course.  

According to data compiled by Argaam, IMC’s capital amounts to SAR 750 million, of which Fitaihi owns a 19.25% stake.  

In January 2017, the Saudi Healthcare and Education Fund acquired its stake in IMC, a 300-bed multi-disciplinary tertiary care hospital that serves Saudi Arabia’s Western Region and targets the high-end segment of the market.  

Dubai-listed Amanat Holdings announced that the Saudi Healthcare and Education Fund, indirectly wholly-owned by it, sold its 13.13% stake in IMC to Kun Investment Holding for SAR 443 million (AED 433 million).  

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