Al Ahsa hires Falcom to advise on medical center acquisition

Al Ahsa Development Co. has appointed Falcom Financial Services to advise on the acquisition of a 40 percent stake in Twareat Medical Center (TMC), the company said in a bourse filing.

Any relevant updates will be duly revealed, however, it is difficult to define the acquisition’s impact at the mean time.

Al Ahsa Development lately inked a non-binding letter of intent (LoI) to buy 40 percent equity in TMC.

TMC, a Saudi company launched in 2010, provides clinical care services for patients.