Dallah Health to acquire Bagedo & Dr Erfan Hospital in Jeddah

April 2, 2014 10:13 am

Saudi-based Dallah Healthcare Holding Co has signed a memorandum of understanding to acquire Bagedo & Dr Erfan Hospital and said the strategic step would help expand its activities in Jeddah and later to Makkah and Madinah, Saudi Gazette has reported. Both parties will sign a contract to acquire all the shares after reviewing the concerned administrative, medical and financial procedures within the coming four to six months. According to the deal, payment of this acquisition will be done through cash settlement and issue new shares of Dallah Health, with the remaining amount to the sellers through capital increase.