Latham Advises on Almoosa Health Company’s Initial Public Offering

Latham & Watkins has advised Almoosa Health Company (Almoosa Health), a leading healthcare provider in Saudi Arabia, on its initial public offering (IPO) on the Main Market of the Saudi Exchange. The IPO of Almoosa Health consisted of an offer of a total of 13,291,074 ordinary shares, representing 30% of its total share capital, by way of a primary issuance and secondary sale. The final offer price for the IPO was set at SAR 127 per share, resulting in a total offering value of SAR 1.69 billion (US$449 million).

Almoosa Health is one of Saudi Arabia’s premier integrated providers of high-quality healthcare, and its services include primary, critical, and rehabilitative care. The Company offers 730 beds across two hospitals in Saudi Arabia’s Eastern Province, offering a comprehensive range of patient services spanning the entire care continuum. Almoosa Health also provides ancillary health services such as pharmaceutical, home healthcare, and telemedicine.

Cornerstone investors participating in the IPO include the Company for Cooperative Insurance (Tawuniya) and Alfozan Holding Company, who subscribed to 4.1% and 2.5%, respectively, of the Company’s capital. Concurrently with the IPO, an employee investment fund purchased 0.3% of the Company’s capital on behalf of authorized employees wishing to invest in the IPO.

The Latham team was led by Riyadh partners Salman Al-Sudairi and Najla Al-Gadi, with Riyadh associates Aya AlHumaid and Saba Al-Gosaibi.