National Medical Care Company (SASE:4005) signed a non-binding memorandum of understanding to acquire Jiwar Medical Services Company from SmartMed for SAR 65 million on January 22, 2023. The purchase price will be paid fully in cash through internal sources and bank loans. The completion of the Transaction is subject to regulatory approval and approval from the General Authority for Competition. The transaction is subject to customary purchase price adjustments made in light of the completion accounts under the Agreement.

National Medical Care Company (SASE:4005) completed the acquisition of Jiwar Medical Services Company from SmartMed on June 7, 2023. The procedures for Care’s acquisition of the entire share capital of the Jiwar Medical have been completed following the satisfaction of the condition precedents stipulated in the Agreement including obtaining approvals from the relevant authorities. The purchase price will be settled in accordance with the completion accounts mechanisms under the Agreement and through Care’s internal sources.