Saudi Arabia’s National Medical Care Co. has signed a land purchase deal in Riyadh for 167.57 million Saudi riyals ($45 million) to build a hospital as part of its strategic expansion plan.

The company will self-finance the purchase of the 39,890-square-metre land plot in the Narjis district, it said in a statement to the Saudi stock exchange.
Details about the planned hospital and construction timelines weren’t disclosed.

In March, National Medical Care had launched its new five-year strategy to drive growth, expand and diversify revenue sources, and increase patient satisfaction.

(Writing by Senthil Palanisamy; Editing by Anoop Menon)