Baker McKenzie advises on the sale of New You Medical Center’s shares

New You Medical Center, a day surgery medical and beauty center in Saudi Arabia focused on bariatric procedures, has completed the sale of a majority equity stake of 51% to Nomu-listed Arabian International Healthcare Holding Co. (“Tibbiyah”), the healthcare arm of Al Faisaliah Group. The consideration is structured through a combination of cash and earn-out payments.

The transaction is subject to a number of pre-closing conditions, including obtaining the approval of the Saudi Arabian General Authority for Competition as well as other conditions of a regulatory and commercial nature.

Baker McKenzie, has advised the shareholder of Innovative Care Trading Co. (“New You”), which owns Riyadh-based New You Medical Center. The team was led by partner Osama Audi (head of corporate/m&a UAE office, pictured) and partner Abeer Jarrar (corporate/m&a, pictured) with further support from Stephanie Samuell, Haya Massoud, Jaanzeb Khan and Aman Al Tawil. KPMG Professional Services acted as lead business advisers to New You.

Baker McKenzie advises on the sale of New You Medical Center’s shares

chiara.seghi

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