Arabian International Healthcare Holding Company (“TIBBIYAH”) listed on the Saudi Exchange Market (“Nomu”) under (SYMBOL: TIBBIYAH/9530) (ISIN:SA15H194KT19), a leading integrated healthcare solutions provider in the Kingdom, today announced that it has entered into a definitive agreement to acquire a majority stake in Innovative Care Company, the ultimate owner of the prominent Riyadh-based medical and beauty center, New You Medical Center.
The Transaction represents TIBBIYAH’s first major investment in the healthcare services vertical, being a milestone that is in line with its strategy to become a diversified healthcare holding company. Eventually, with a compelling value creation proposition for TIBBIYAH and its shareholders, the acquisition is value accretive, with a clear plan to grow the business.
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