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Saudi Arabia’s Dr Soliman Abdulkader Fakeeh Hospital Company (Fakeeh Care) has acquired Dr Mohammed Bin Rashed Al Faqih & Partners Company (Al Faqih & Partners) for a cash offer of 1.596 billion riyals ($425 million).
The transaction will be funded through a mix of internal resources and bank debt.
Al Faqih & Partners, which is a provider of medical services in the kingdom, is co-owned by Dallah Healthcare Company, which holds a 31.21% stake, along with Mohammed Rashid Al Faqih with an ownership percentage of 18.2%, and 38 minority shareholders with an aggregate ownership percentage of 50.59%.
Dallah Healthcare, which is also listed on the Saudi Exchange, announced its stake in the company is being sold for SAR 498 million in a bourse filing.
Assets held by Al Faqih & Partners include a 93,000 sqm medical complex in Central East Riyadh which comprises a multi-specialty 350-bed general hospital.
According to the Tadawul-listed healthcare provider, the new deal is part of its strategy to expand its footprint in Riyadh and “strengthen its multi-specialty service offerings”.
The acquisition, which is subject to regulatory and additional approvals, will increase the group’s consolidated debt levels reflecting both acquisition financing and the assumption of the acquired company’s existing net debt, it said.
Fakeeh Care reported a 46.8% year-on-year decline in Q1 net profit to SAR 38.41 million, citing fewer operating days due to a longer Ramadan and Eid Al Fitr period in Q1 2026 compared with Q1 2025.
(Writing by Bindu Rai, editing by Seban Scaria)
