Tibbiyah closes acquisition of Al-Hammad Medical Services

03/07/2024 Argaam
Logo ofArabian International Healthcare Holding Co. (

Logo of Arabian International Healthcare Holding Co. (Tibbiyah)

Arabian International Healthcare Holding Co. (Tibbiyah) completed the acquisition of Al-Hammad Medical Services Co. (HMS) for SAR 35 million, according to a statement to Tadawul.

 

This followed the fulfillment of the agreement's conditions, obtaining approvals from relevant authorities and the complete transfer of ownership of HMS to Tibbiyah.

 

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The acquisition will provide Tibbiyah and its shareholders with rewarding value as HMS generates annual revenues of up to SAR 100 million and has an earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of around 11.5%.

 

According to data compiled by Argaam, Tibbiyah signed a conditional binding share purchase agreement (SPA) to acquire 100% of HMS for SAR 35 million.

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