The Clap
Care (4005) signed an agreement with Smart Therapy Investment to acquire Jiwar Medical Services for SAR 65 million.
What
The deal will be financed through its internal sources and bank financing. Jiwar Medical Services was valuated using discounted cash flows, profitability multiples, and EBITDA multiples.
So What
The target company is a healthcare company that owns a 66-bed medical center located near the Grand Mosque in Mecca.
The company seeks to provide emergency healthcare services to the guests of the Grand Mosque, residents, and workers in the region.
Now What
The company is expected to start operating in Q2 2023.
The transaction is expected to contribute to Care’s investment strategy by expanding in the field of healthcare and exploiting growth opportunities in related markets.
