Jadwa Investment sells majority stake in Al Meswak to Gulf Islamic Investment

17/05/2022 Argaam

Company executives at the signing ceremony 

Jadwa Investment and Dubai-based Gulf Islamic Investment Co. (GII) announced that Jadwa Healthcare Opportunities Fund 3, which is managed by Jadwa, sold its majority stake in Al Meswak Dental Clinics to GII and Jadwa Healthcare Opportunities Fund 5, a new Jadwa-managed fund.

 

Al Meswak, Saudi Arabia’s largest dental and dermatology care provider, is valued at more than $530 million (SAR 2 billion), the companies said in a joint statement.

 

GII’s Co-CEO and Co-Founder Mohammed Alhassan stated that his firm will cooperate with Jadwa Investment to list Al Meswak on the Saudi Exchange (Tadawul) within the next two or three years.

 

Almeswak Dental Clinics operates around 80 centers across 20 cities in the Kingdom.

 

Jadwa Investment purchased a 70% stake in Almeswak Dental Clinics in 2017, according to data compiled by Argaam.

 

For More Mergers and Acquisitions

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