Arabian International Healthcare Holding Company (SASE:9530) entered into a definitive agreement to acquire 51% interest in Innovative Care Company on March 10, 2022. The consideration is structured through a combination of cash and earn-out payments. The agreement is subject to a number of pre-closing conditions, including, without limitation, obtaining the approval of both company boards, the General Authority for Competition, as well as other requirements of a regulatory and commercial nature.

Osama Audi and Abeer Jarrar of Baker & McKenzie Limited acted as legal advisor to Innovative Care Company. As of June 30, 2022, General Authority for Competition has approved the acquisition of Innovative Care by Arabian International Healthcare. KPMG Professional Services acted as financial advisers to New You.