March 25, 2023

Dubai Week

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We are trying to expand the primary health care sector in the state

We are trying to expand the primary health care sector in the state

CEO Yasser Joharji said: Al-Nahdi Saudi Medical Institute His company has clear strategies to expand the pharmaceutical sector through digital expansion and to provide faster and better services using the revenue from the company’s future offer.

Speaking to Al Arabia, he added that the company wants to expand in the field of primary health care, adding, “We started with two maintenance clinics and will start more clinics within pharmacies, the number of which is now 7, and we will start on a larger scale. Numbers in the country.”

He explained that his company has been operating in the state for 4 decades, providing its services in 144 cities and villages in Saudi Arabia, employing 6,000 staff and having 1,150 pharmacies.

He said his company covers 97% of the population in the country and has “high logistics and digital strength with large investments, which enables us to book front seats in the future.”

He went on to say that our market share is 10% based on the number of pharmacies and our market share is 31% based on value in the private pharmacy sector.

He noted that the company plans to expand in all parts of the kingdom, with the aim of contributing 20% ​​to future growth in the expansion process.

NCB Capital and HSBC Saudi Arabia, as financial advisers, corporate bookmakers and underwriters for the potential initial public offering of Nahdi Medical Company, have announced their intention to issue an initial public offering and list its ordinary shares. This includes the sale of 30% of the company’s shares, according to a report on Sunday in the main market in Tadaul Saudi Arabia.

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The company received Saudi approval on December 19, 2021, to list its shares in the main market, and was approved by the Capital Markets Commission on a request to issue 39,000,000 ordinary shares (30% of the company’s shares) to the public offering. December 29, 2021. Offer price will be fixed for all subscribers after the order book expires.

Nahdi Medical plans to raise about $ 1.3 billion (4.9 billion riyals) from the offering, which could be the largest list in Saudi Arabia since Saudi Aramco’s IPO in 2019.

Al-Nahdi Medical Company has appointed HSBC’s local unit and investment banking division of the Saudi National Bank to sell 30% stake in the Saudi stock market.

Sources indicate that the company expects an estimate of around 16 billion riyals in the initial public offering.

Al-Nahdi Medical Company is a wholly owned subsidiary of Jeddah-based investment firm SEDCO Holding.