Almeswak Dental considering options of sale, IPO: report

Almeswak Dental Clinics logo

Almeswak Dental Clinics, Saudi Arabia’s largest dental and dermatology care provider, is considering a range of strategic options, including a full or partial sale or an initial public offering (IPO), Bloomberg reported, citing to people familiar with the matter.

Company shareholders have hired investment bank EFG-Hermes Holding Co. to look at a range of alternatives, the report said, indicating the company’s valuation at almost $1 billion.

The proposal has already attracted interest from regional players and international private equity firms, the sources said.

Almeswak Dental Clinics operates around 80 centers across 20 cities in the Kingdom.

The company is majority-owned by Saudi private equity firm Jadwa Investment Co., which bought its 70% stake in 2017.