SPIMACO’s Arac Healthcare to set up new SAR 5 mln subsidiary

04/06/2015 Argaam

Saudi Pharmaceutical Industries and Medical Appliances Co. (SPIMACO) said in a bourse statement on Thursday that its fully-owned subsidiary Arac Health Care Co. will establish a new SAR 5 million company to manage and operate medical centers and pharmacies.

 

Arac Healthcare will own 80 percent of the new entity, while Pharmaceutical Industries for Distribution Co. will hold a 20 percent stake.

 

The decision, which was approved by SPIMACO’s board of directors, comes as ARAC moves to capitalize on the expansion of the healthcare sector in Saudi Arabia. The company also wants to promote its products in the kingdom.

 

The new venture will be financed from Arac Healthcare’s internal resources, the company added.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read