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Report: Saudi hospital chain may hire Goldman Sachs as adviser in merger talks

Saudi Arabian hospital operator Al Hammadi Company For Development and Investment could hire Goldman Sachs Group Inc. as an adviser on a potential merger deal with another Saudi hospital operator, National Medical Care Co., Bloomberg News reported citing people familiar with the matter.

The two hospital operators have already started preliminary talks regarding the merger, with the merged company expected to hold a combined market value of about $1.9 billion, the report said.

Al Hammadi may finalize the appointment of Goldman Sachs in the coming days, but the plans could change, Bloomberg reported citing the sources who did not want to be identified.

National Medical Care Co. operates and manages hospitals in Saudi Arabia. It is likely to appoint JPMorgan Chase & Co. as an adviser for the potential deal, the report said.