Dallah expects revenue to grow by SAR500M in first year after Al-Salam-Al-Ahsa acquisition in 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.
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