Dr. Sulaiman Al Habib Medical Services Group Company (HMG), a Saudi publicly-listed joint stock company, has announced issuance by the General Authority for Competition of its non-objection decision with respect to the completion of the economic concentration transaction resulting from the acquisition of a 25% stake in Tamkeen Human Resources Company (Tamkeen), one of the leading human resources companies in the Kingdom, licensed by the Saudi Ministry of Human Resources and Social Development.
HMG signed a share purchase agreement with Tamkeen’s selling shareholders on 21 February 2022. The completion of the transaction remains subject to customary closing conditions.
HMG is the largest provider of comprehensive healthcare services in the Middle East, engaged in hospitals and healthcare facilities, pharmacies, and related management and operation services. It is currently operating over 20 medical facilities across Saudi Arabia, UAE, and Bahrain, in addition to developing five hospitals and healthcare facilities in Saudi Arabia.
The Law Office of Salman M. Al-Sudairi and Latham & Watkins advised HMG on the transaction with a corporate team led by Riyadh partner Ahmed el-Gaili, with associate Noor Al-Fawzan.