The Saudi subsidiary of the Moroccan group Akdital raises 100 million dollars

The fundraising process was led by partners from Mediterrania Capital Partners (MCP), including its president, Saad Bendidi, for Akdital Hospitals, the international sub-holding of the group based in Riyadh, Saudi Arabia. This 100 million dollar international raise complements a bond issuance completed in Morocco for 1.2 billion dirhams last November. Both operations are part of a strategic plan aimed at providing the group with the necessary financial resources to execute its development and international expansion strategy. In Saudi Arabia, Akdital plans to develop and operate several healthcare facilities in Riyadh, Mecca, Jeddah, and Medina, with a combined capacity exceeding 1,000 beds. The planned investments amount to approximately 5.3 billion Saudi riyals, or over 1.4 billion dollars. The first realization of this strategy occurred last July with the signing of a memorandum of understanding with Dr. Abdulrahman Al-Mishari for Development, concerning the leasing and management of the Abdulrahman Al-Mishari Hospital, a multidisciplinary private facility located in the Al Olaya district of Riyadh. Earlier this week, the group announced the signing of a Memorandum of Understanding (MoU) for the acquisition of a majority stake in Bishri Hospital, located in Mecca, pending the fulfillment of the required regulatory and operational conditions in the coming weeks.