SPIMACO plans to buy additional stake in Qassim Medical for SAR 200 mln

25/01/2016 Argaam

Saudi Pharmaceutical Industries and Medical Appliances Corporation (Spimaco) plans to acquire an additional 40 percent stake in Qassim Medical Services Co. (QMS) for SAR 200 million, which will bring its stake in the company to 56.71 percent.

 

The deal will be funded from the company’s resources in addition to loans, the company said in a statement last week.

 

Spimaco said the deal is not a related-party transaction, and that it will disclose further updates on a timely basis.

 

Saudi-listed Spimaco had helped co-found QMS, which was established in 1993.

 

QMS has a current capital of SAR 200 million. It has owned and operated Qassim National Hospital since 2010.

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