Riyadh – Mubasher: National Medical Care Company (NMC) completed the procedure to acquire the share capital of Jiwar Medical Services Company on 7 June, according to a bourse filing.
The listed firm fully acquired Jiwar Medical Services after obtaining the required regulatory approvals.
Meanwhile, the transaction will reflect on NMC’s income statements during the third quarter (Q3) of 2023.
The two companies signed the share purchase agreement last January at a total value of SAR 65 million.
During the first three months (3M) of 2023, the net profits after Zakat and tax of NMC reached SAR 56.26 million, higher by 87.57% year-on-year (YoY) than SAR 29.99 million.
Revenues jumped by 23.60% to SAR 261.39 million in Q1-23 from SAR 211.47 million in Q1-22, while the earnings per share (ESP) went up to SAR 1.25 from SAR 0.67.
