Beirut (APD) - The Saudi firm National Medical Care Company (NMC) intends to launch a SR 1 billion ($266.62 million) IPO within two years, the Riyadh-based al-Riyadh daily reported Tuesday.
"We intend to create a new hospital and family care centers in residential areas in Saudi Arabia," said Sulaiman Albilali, the general manager of NMC.
In one of several initiatives, NNM is refurbishing Riyadh Care Hospital. "We have also embarked on the construction of the new seven-storey National Hospital in Riyadh which will replace the existing National Hospital. It will have a capacity of 150 beds," Albilali added.
NMC was established in 2003 as a Saudi shareholding company.
It owns and manages both Riyadh Care Hospital (previously known as Insurance Hospital) with a capacity of 250 beds and National Hospital with a capacity of 100 beds.
The Saudi Arabian General Organization for Social Insurance (GOSI) is the majority shareholder in NMC.
The Arab Company for Medical Services also owns a stake in NMC. [SN-TS]
© APD (Arab Press Digest) 2005
