Lana Medical Co acquires Saham Environmental Services Company for 5 million riyals

RIYADH, KSA: Lana Medical Company announced the acquisition of 100% of Saham Environmental Services Company, at a value of 5 million riyals. The acquisition is in line with the company’s strategy aimed at expansion and searching for investment opportunities in the environmental sector that benefit the company and its shareholders.

Lana Medical aims to acquire the service of disposing of commercial waste and demolition and construction waste, given that Sahm Environmental Services Company has more than 18 years of experience and possesses a wide customer base and great capabilities to provide its services to the commercial and contracting sectors, especially since Sahm is one of the leading and well-established companies in its field.
This acquisition of Lana Company comes to enhance its ability to serve its customers with a wide range of environmental services, which will support the acceleration of the development of its operations in environmental services through a wider range of services, drive growth in the company’s environmental sector, and expand into other categories in the future.
This step comes in line with the Kingdom’s Vision 2030 in the environmental sector, and it is worth noting that Lana Medical Company owns a group of environmental services, most notably the transportation and treatment of high-risk medical waste, and it owns a number of stations throughout the Kingdom.
The acquisition will be financed through internal cash flows, and the financial impact of the deal will appear on the financial results as of the first quarter of the fiscal year 2024.

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