Saudi Pharmacy Chain Seeks Primary Healthcare Push Amid IPO Plan
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Saudi Arabia’s largest pharmacy chain plans to expand its primary healthcare business and may consider acquisitions as it decided to proceed with an IPO in the kingdom.
Nahdi Medical Co. may use its pharmacies across the kingdom to start offering primary healthcare services, building on existing clinics in Jeddah, Chief Executive Officer Yasser Joharji told reporters. The company, which claims its stores are five minutes away from 90% of Saudi Arabia’s population, is also looking to expand its business in neighboring United Arab Emirates, including through acquisitions, he said.