RIYADH: Saudi-listed hospital operator National Medical Care Co. has appointed GIB Capital to advise on the potential acquisition of Jiwar Medical Services Co.
Known as Care, the company also signed a memorandum of understanding with Smartmed Investment Co. which fully owns Jiwar, according to a bourse filing.
The non-binding deal will be valid for six months and is subject to obtaining the necessary approvals for the proposed acquisition.
Care hasn’t disclosed the final value of the transaction, noting that the financial impact will be announced upon completion of negotiations and legal procedures.