December 30, 2025
Maharah Repositions Investments with Care Shield Exit
Maharah Human Resources Company announces the completion of the sale of its entire stake in Care Shield Holding Company (the owner of Kingdom Hospital and Consulting Clinics), through its wholly owned subsidiary, Growth Avenue Investment Company. The transaction involved the sale of 41.36% of Care Shield’s share capital to Dallah Healthcare Company for a total consideration of SAR 434,311,080, pursuant to a share sale and purchase agreement signed on 18 December 2025.
This transaction is aligned with Maharah’s approved growth strategy (“MAHARAH NOMU STRATEGY – Strategic Growth for a Sustainable Future”), which focuses on strengthening the Company’s core manpower placement activities, differentiating its service offering, and enabling sustainable and scalable growth. The divestment reflects Maharah’s disciplined portfolio management approach and indicates a more focused view on the Company’s core business operations, prioritizing capital allocation toward core and strategically aligned business segments that support long-term value creation.
The carrying value of Maharah’s investment in Care Shield amounted to approximately SAR 333 million as of 30 September 2025, as reflected in the Company’s consolidated statement of financial position. The capital gain resulting from the sale is expected to be recognized in Maharah’s consolidated financial statements for the financial year ending 2025, following the update of the investment value to reflect Maharah’s share of Care Shield’s results for the period from 1 October 2025 until the transaction execution date, in accordance with the applicable accounting standards.
The proceeds from the transaction will be utilized to support and strengthen Maharah’s financial position, including the settlement of a significant portion of existing financing facilities, thereby enhancing balance sheet efficiency and reducing financing costs. This is expected to positively impact future profitability and cash flow generation, reinforcing Maharah’s capacity to deliver sustainable and improved returns to its shareholders.
