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NMC Health To Form JV Healthcare Platform With Hassana In KSA - Quick Facts

NMC Health plc (NMC.L) announced a non-binding agreement to form a joint-venture healthcare platform with Hassana Investment, the investment arm of the General Organization for Social Insurance, a pension fund in Kingdom of Saudi Arabia. NMC will contribute all of its existing KSA-based assets as part of the formation of the JV platform.

The JV will be formed through contribution of existing assets by both NMC and GOSI's investment in Tadawul-listed National Medical Care Company, CARE. GoSI/ Hassana will transfer their 38.9% stake in CARE at a price of SAR 70/share.

NMC will hold a voting majority in the proposed JV, with the exact stake subject to final terms. NMC will fully consolidate the JV financials. NMC will also retain operational and management control of the assets held by the JV.

by RTTNews Staff Writer

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