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Saudi-listed healthcare firm Qomel Company has signed a deal to acquire a 75% stake in Kan Medical Company.
The transaction, valued at SAR 3 million ($800,000), is being financed through Qomel’s internal resources, the firm specialising in pharmaceuticals and medical supplies confirmed on Tuesday.
The move is expected to boost Qomel’s presence in the medical device manufacturing sector and diversify its business base.
Kan Medical is a newly established company that manufactures medical devices. The firm specialises in aesthetics and products including soluble threads, stem cells and mesotherapy.
(Writing by Cleofe Maceda; editing by Seban Scaria)
