Dallah Healthcare is now the sole owner of Care Shield Holding

Dallah’s expands portfolio, Maharah cashes out

Dallah Healthcare is now the sole owner of Care Shield Holding after purchasing the remaining 41.4% share owned by Maharah Human Resources ’ subsidiary Growth Avenue Investments for SAR 434.3 mn.

What’s in for Maharah? The price tag sits more than SAR 100 mn above the SAR 333 mn carrying value Maharah reported in September — a 30% jump in value in a single quarter.

Dallah is realigning the pieces: The company accepted a non-binding offer from Fakeeh Hospital in October to sell its 31.21% stake in Al Fagih Hospital. It also acquired Al Ahsa Medical Services and Al Salam Medical Services from Ayyan Investments in April — financed through a capital hike a month earlier.

Also worth noting

• National Medical Care (Care) awarded a SAR 393 mn contract to BEC ArabiaContracting for the MEP and finishing works of the first phase of its medical hospital in Riyadh’s Al Narjis, according to a filing to the bourse.