RIYADH, Saudi Arabia: A Dubai-based investment company is close to buying a majority share in Saudi Arabia’s largest dental chain, according to media reports. The sale of ALMESWAK Dental Clinics, which runs around 85 clinics in 25 Saudi cities, indicates that healthcare investments in the kingdom are growing in appeal.
Bloomberg reported that Gulf Islamic Investments (GII) is ready to purchase a 70% stake in ALMESWAK for around US$600 million (€530 million), citing unnamed sources familiar with the matter. The 70% stake has been owned since 2017 by private equity firm Jadwa Investment, and the remaining 30% of the shares are held by Emirati healthcare company United Eastern Medical Services.
Bloomberg reported in February that ALMESWAK shareholders had hired an investment bank to explore a range of sale or stock-floating options for the dental chain. The prospective buyer, GII, is a privately held sharia-compliant company, and at least half of its investors are Saudi. It oversees more than US$2 billion in assets and said in 2021 that it was interested in expanding in Saudi Arabia and India.
Saudi Arabia’s dental industry is undergoing a reset after a drive for “Saudization” of its dental workforce was confirmed in October last year. Saudi Arabia’s Minister of Human Resources and Social Development wants at least 60% of jobs in selected healthcare specialties, including dentistry, to be held by Saudi nationals. Effective from 11 April this year, the Nitaqat Saudization programme applies to all privately operated dental clinics in the country that employ three or more dental professionals.
NEW YORK, US: Global dental distributor Henry Schein will purchase a majority share in Biotech Dental with the aim of expanding its offering in some of ...
NEW DELHI, India: After opening 12 new clinics in a single day, Clove Dental, India’s largest dental chain, has attained an even more impressive ...
MAASTRICHT, Netherlands: As a result of the digitalisation of our everyday lives, telemedicine is becoming an increasingly more interesting topic for both ...
Using a mixture of documentation and clinical cases, Dr Gonçalo Assis will be discussing the implementation of Guided Biofilm Therapy (GBT) during implant ...
LEIPZIG, Germany: In-person dental events have not taken place during the SARS-CoV-2 pandemic, and the industry is eager to resume this kind of interaction ...
STOCKHOLM, Sweden: After experiencing the negative environmental impact of plastic waste while performing voluntary work in Jamaica, Dr Noel Abdayem decided...
OSLO, Norway: Seeking to fill the gap on available epidemiological data on the present oral health situation in Norway, researchers have recently assessed ...
NEW YORK, US: In line with the International College of Dentists’ (ICD) motto “Recognising Service and the Opportunity to Serve”, leading dentists ...
BARCELONA, Spain: The International Osteology Symposium is currently being held for the next three days under the theme “THE NEXT REGENERATION” and is ...
GLASGOW, UK: The International Federation of Endodontic Associations’ 2024 World Endodontic Congress will take place in Glasgow from 11 to 14 September at...
Live webinar
Thu. 18 July 2024
8:00 pm EST (New York)
Live webinar
Tue. 6 August 2024
6:00 pm EST (New York)
Live webinar
Tue. 13 August 2024
7:00 pm EST (New York)
Live webinar
Wed. 21 August 2024
9:00 am EST (New York)
Dr. Jim Lai DMD, MSc(Perio), EdD, FRCD(C)
Live webinar
Wed. 28 August 2024
8:00 pm EST (New York)
Live webinar
Mon. 2 September 2024
5:00 am EST (New York)
Live webinar
Tue. 3 September 2024
11:00 am EST (New York)
To post a reply please login or register