Latest news with #Dallah
Argaam
07-04-2025
- Business
- Argaam
Dallah expects revenue to grow by SAR500M in first year after Al-Salam-Al-Ahsa acquisition in Eastern Province
Dallah Healthcare Co. (Dallah Health), which is listed on Tadawul under the ticker symbol: 4004 and ISIN: SA135G51UI10, and one of the leading specialized healthcare service providers in Saudi Arabia, announced today, April 7, closing its acquisition of AYYAN Investment Company's shares in Al-Ahsa Medical Services Co. and Al-Salam Medical Services Co. in the Eastern Province. This move aligns with the company's strategy that aims to expand its geographical footprint and enhance its contribution to the development of the Kingdom's healthcare sector. The acquisition reflects Dallah's commitment to delivering the highest value to shareholders in the long term, in line with its effort to enhance its leadership in the healthcare industry and provide advanced medical services that meet the needs of the Saudi society according to the highest quality standards. On this occasion, Eng. Tarek Othman Alkasabi, Chairman of Dallah Healthcare, said: 'Dallah Healthcare proceeds confidently with its growth strategy to strengthen its position as the most reliable provider of healthcare services in Saudi Arabia. The new acquisition aims to facilitate access to our medical services which are distinguished by expertise, quality, and professionalism—for a larger segment of the society. It will also support the company's development ambitions by increasing revenue and integrating the knowhow and resources of acquired companies to enhance the quality and efficiency of the services we offer to our patients.' Under the deal, Dallah acquired a 97.41% stake in Al-Ahsa Medical Services Co. (Al-Ahsa Hospital) which is valued at SAR 409 million, and 100% of Al-Salam Medical Services Co. (Al-Salam Hospital) which is valued at SAR 251 million. In exchange, Dallah issued 3.89 million new shares to AYYAN Investment Company, representing 3.83% of Dallah's capital. The acquisition contributed to increasing the group's capacity by 37% starting mid-March 2025, adding 424 beds (274 at Al-Ahsa Hospital and 150 at Al-Salam Hospital). Once fully operates, Al-Salam Hospital's capacity will jump 65% to 475 beds, bringing the group's total capacity to 1,903 beds. It will reach 2,560 beds with the addition of associates*. This reflects significant growth opportunities and broad prospects for the group to enhance its presence and market share. The deal is expected to increase the group's revenues by approximately SAR 500 million in 2025. The revenues will see a further rise in subsequent years, driven by growth in occupancy rates of both hospitals - particularly Al-Salam Hospital. Dallah's long-standing expertise in the healthcare sector will lead to a qualitative improvement in the medical services provided at both hospitals, thereby increasing revenues. *Associates account for 657 beds. For more details, please refer to the Investor Relations page on Dallah Healthcare's website, as well as the Issuer Announcements page on the Saudi Exchange (Tadawul) website.
Argaam
13-03-2025
- Business
- Argaam
Dallah shareholders approve capital hike to acquire AYYAN's stakes in Al-Ahsa, Al-Salam
Dallah Healthcare Co. 's shareholders approved on March 12 increasing capital from SAR 976.81 million to SAR 1.02 billion by issuing 3.89 million ordinary shares. The capital increase is part of Dallah's plan to acquire AYYAN Investment Co. 's stakes in Al-Ahsa Medical Services Co. (97.41%) and Al-Salam Medical Services Co. (100%). In a statement to Tadawul, Dallah said the capital increase will be used to acquire 14.61 million ordinary shares in Al-Ahsa, representing 97.41% of its capital, at a par value of SAR 10 per share. The company will also purchase all shares in Al-Salam, totaling 20 million ordinary shares, at SAR 10 each.
Argaam
05-02-2025
- Business
- Argaam
Dallah gets CMA nod on capital hike to buy AYYAN's holdings in Al-Ahsa, Al-Salam
The Capital Market Authority (CMA) approved Dallah Healthcare Co. 's request to increase its capital from SAR 976.81 million to SAR 1.02 billion, the market regulator said in a statement today, Feb. 5. The planned capital top-up will be made through the issuance of 3.89 million ordinary shares to acquire a 97.41% stake in Al-Ahsa Medical Services Co. and 100% of Al-Salam Medical Services Co., both owned by AYYAN Investment Co. The shareholders' circular related Dallah's proposed capital hike will be published within sufficient time before the deciding extraordinary general meeting (EGM), the CMA added. The shareholders' circular must include all relevant information that shareholders need to know before making an informed decision when voting on the capital increase for the purpose described, including the rise in capital and the associated risk factors. A voting decision without reading the shareholders' circular and carefully reviewing its content may involve high risks. Therefore, shareholders should carefully read the provided documents to confidently reach an informed decision. If the shareholders' circular proves difficult to understand, it is recommended to consult with an authorized financial advisor, the authority noted. The CMA's approval of Dallah's planned capital hike should not be considered as an endorsement of the aforementioned pursuit. It merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.
