Care gets all of Chronic Care Specialized: The National Medical Care Co. (Care) said yesterday it has received the green light from regulators to go ahead with the full acquisition of Chronic Care Specialized Medical Hospital Co. The seller is Saudi Medical Care Group (SMG).

The final sale value is up in the air: Care and SMG said in September that the transaction was worth about SAR 193 mn, but yesterday’s disclosure waffled a bit, saying the “purchase price will be settled in accordance with the completion accounts mechanisms.”

It’s a related party transaction: SMG will still have exposure to Chronic Care through Care, where it has a 49.2% stake.

Financed by Gulf International Bank: Also in September, Care secured a long-termshariah-compliant loan worth SAR 350 mn from the Gulf International Bank (GIF) to sponsor its working capital needs as well as potential acquisitions and expansion bids.

Care’s new five-year strategy: The healthcare provider’s five-year strategy, launched in March of last year, includes extending its service offering in Riyadh and widening its patient base by serving new target groups, it said in a filing last year.

About Chronic Care Specialized: The Chronic Care Specialized Medical Hospital’s main center located in Jeddah, where it offers comprehensive medical care, long-term nursing care, elderly care, and palliative care, according to the company’s website.

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