Healthcare joint venture speeds Saudi expansion

 

The venture is made up of NMC’s five assets in Saudi Arabia and an additional cash injection, together with GOSI’s contribution of 38.88% stake in Tadawul-listed National Medical Care Company at a price of R54.00 (US$14.40) per share. NMC will have operational control of the venture.

"We are pleased to reach this important milestone in the creation of our JV with GOSI, which sets a clear line of sight to the near-term completion of the transaction. This partnership will allow NMC to significantly increase its pace of expansion in the Kingdom, while simultaneously bringing best practices to the country," said Prasanth Manghat, chief executive officer of NMC Health.

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