{"id":84263,"date":"2024-03-12T00:00:00","date_gmt":"2024-03-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/12\/tibbiyah-is-the-new-owner-of-al-hammad-medical-services\/"},"modified":"2024-03-12T00:00:00","modified_gmt":"2024-03-12T00:00:00","slug":"tibbiyah-is-the-new-owner-of-al-hammad-medical-services","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/12\/tibbiyah-is-the-new-owner-of-al-hammad-medical-services\/","title":{"rendered":"Tibbiyah is the new owner of Al-Hammad Medical Services"},"content":{"rendered":"

Tibbiyah to take over Al-Hammad Medical Services<\/strong>: Nomu-listed Arabian International Healthcare (Tibbiyah) has acquired 100% of local healthcare player Al-Hammad Medical Services in a SAR 35 mn transaction, it said in a filing to Tadawul<\/a>. A portion of the sale will be self-funded, while the rest will be covered through financing from an unnamed local lender.<\/p>\n

The rationale: <\/strong>The move aims to boost Tibbiyah\u2019s market share in the healthcare sector, and bolster its venture into the medical supplies and consumables distribution industries \u2014 ultimately allowing the company to diversify its product portfolio.<\/p>\n

About Al-Hammad:<\/strong> The Riyadh-based company offers medical IT solutions, medical furnishings, and consumables and pharma products, according to its official webpage<\/a>. Its revenues rose 11% y-o-y to SAR 91.6 mn in 2022.<\/p>\n

Market reax: <\/font><\/strong>Tabbiyah\u2019s shares were up 3.6% to SAR 41.95 a piece at yesterday\u2019s market close.<\/p>\n","protected":false},"excerpt":{"rendered":"

Al-Hammad\u2019s revenues rose 11% y-o-y to SAR 91.6 mn in 2022<\/p>\n","protected":false},"author":1,"featured_media":84264,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[13,14],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-healthcare","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"0288b6c1-228d-46d8-895c-216aafc63947","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/989.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Tibbiyah is the new owner of Al-Hammad Medical Services","related_issue":[84249],"teaser":"Al-Hammad\u2019s revenues rose 11% y-o-y to SAR 91.6 mn in 2022","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.7ca5b3c7-142b-4c4d-9f66-f4cb8886a7bf.mp3"},"yoast_head":"\nTibbiyah is the new owner of Al-Hammad Medical Services - 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