Saudi Arabia-listed Al-Dawaa Medical Services Company is closing down four international branches as it seeks to consolidate all business operations within Saudi Arabia. 

The company, a major Saudi healthcare and retail pharmacy player, said on Monday that it intends to move all activities under the main Saudi entity to streamline management and operations.

The Board of Directors has already initiated the voluntary liquidation and closure of the following subsidiaries: Hollinz GmbH and Ronzak GmbH in Germany, and Glanzzen FZ-LLC and Al- Dawaa Medical Services FZ-LLC in Dubai, the firm confirmed.

The move aligns with Saudi Arabia’s strategy to strengthen its position as a business hub. It will not have a material impact on its financial position or operational cash flows, Al-Dawaa said.

"This decision is in line with the company’s commitment to Saudi Vision 2030, which aims to strengthen the Kingdom’s leading regional position as a business hub, support the localisation of business activities and enhance local content within the Kingdom," the firm said.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com