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Cases & Deals

May 31, 2020

King & Spalding Advises on the Sale of the Largest Diagnostic Center in the Middle East

King & Spalding LLP acted as counsel to Gulf Capital in relation to a Saudi Arabian fund largely owned by Gulf Capital related to the sale of MetaMed’s Saudi Arabian operations, the region’s largest diagnostic imaging network, to Ray Lab, owned by a consortium of international and regional investors, including Mediterrania Capital Partners, Cairo Scan for Radiology and Labs and a number of European Development Financial Institutions.

MetaMed owns Consultant Radiologist Diagnostic Center CJSC, a Saudi Arabian closed joint stock company through Meta Med Fund I, a Shari’ah-compliant private closed-ended investment fund organized under the laws and regulations of the Capital Market Authority of the Kingdom of Saudi Arabia.

The sale is one of the largest private equity transactions in the Gulf region in recent years.