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Saudi Arabia’s Dr Soliman Abdulkader Fakeeh Hospital Company (DSFH) has signed a binding share purchase agreement to acquire 50.01% of equity stake in teleradiology and imaging services company Diagnostic Elite from Fakeeh Real Estate, for 70 million riyals ($18.7 million), with no profit to the seller.
Fakeeh Real Estate holds 30,506 shares out of 61,000 issued shares, representing 50.01% of the company’s share capital.
The deal is designed to fuel Diagnostic Elite’s growth, with over 75% of the investment allocated to expanding its operate-and-manage (O&M) model to 16 medical facilities across Saudi Arabia. Currently, six centers are operational in Jeddah, Makkah, Madinah, Khamis Mushait, and Yanbu, with plans to open ten more.
(Writing by Brinda Darasha; editing by Daniel Luiz)
