Saudi Fakeeh Hospital Co. Acquires Majority Stake in Diagnostic Elite for $18.7mln

Saudi Arabia’s Dr Soliman Abdulkader Fakeeh Hospital Company (DSFH) has signed a binding share purchase agreement to acquire 50.01% of equity stake in teleradiology and imaging services company Diagnostic Elite from Fakeeh Real Estate, for 70 million riyals ($18.7 million), with no profit to the seller.

Fakeeh Real Estate holds 30,506 shares out of 61,000 issued shares, representing 50.01% of the company’s share capital.

The deal is designed to fuel Diagnostic Elite’s growth, with over 75% of the investment allocated to expanding its operate-and-manage (O&M) model to 16 medical facilities across Saudi Arabia. Currently, six centers are operational in Jeddah, Makkah, Madinah, Khamis Mushait, and Yanbu, with plans to open ten more.