Al Fagih is now a Fakeeh subsidiary as SAR 1.6 bn acquisition closes

Fakeeh Care wraps up Al Fagih acquisition: Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) completed its SAR 1.6 bn acquisition of Dr. Mohammed Bin Rashed Al Fagih & Partners Co. (Al Fagih), according to a Tadawul disclosure. Al Fagih has been consolidated as a wholly owned subsidiary, giving Fakeeh Care its second hospital in Riyadh.

What the acquisition adds: The acquisition diversifies Fakeeh’s customer base by bringing in more patients who pay out of pocket and those covered by lower-tier ins. plans, adding to its existing focus on VIP and premium-insured patients. It also adds a 350-bed hospital in central-east Riyadh to Fakeeh Care’s portfolio, pushing total capacity to 535 beds across a two-site cluster.

REFRESHER- Fakeeh Care received the regulator’s go-ahead for the allcash transaction last month. The company absorbed stakes from Dallah Healthcare (31.21%), founder Mohammed Rashid Al Fagih (18.2%), and minority shareholders (50.6%). Shortly after, Fakeeh secured SAR 2.2 bn across two shariah-compliant credit facilities — SAR 1.25 bn from Saudi National Bank and SAR 950 mn from Saudi Awwal Bank.

Fakeeh has been on an acquisition run: The company took a 50.01% stake in Saudi teleradiology provider Diagnostic Elite for SAR 70 mn in December 2025 and bought Dubai-based MediCentres from Everest Health Investments for an undisclosed sum in January 2025.

It’s a sector-wide expansion spree: Dallah has been on its own M&A run for years — acquiring Kingdom Hospital, Makkah Medical Center, Al Salam, and most recently, Al Ahsa. Meanwhile, National Medical Care stitched together Jeddah’s Chronic Care Specialized Medical Hospital and Makkah’s Jiwar Medical Center. Furthermore, Sulaiman Al Habib and Mouwasat are scaling mostly organically with new builds in Riyadh, Dammam, and beyond.