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Kuwait’s Agility offers USD92.44m bid for KHAC stake

04 Dec 2011

(MENAFN) Kuwait’s Agility said that it offered a USD92.44 million bid to purchase a strategic stake in Kuwait Health Assurance Co (KHAC), reported Arabian Business.

The firm added that strategic investors were asked to bid for 26 percent of the 30 percent equity capital contribution, moreover, Agility’s bid excluded the optional premium of USD180,473.

It also said that KHAC, which is still under construction, was set up with a capital of USD1.15 billion and the required equity to establish the firm was 30 percent.

It is worth noting that KHAC aims to privatize expatriate health insurance and associated medical care, moreover, it includes plans to establish and operate three new hospitals and 15 health clinics in Kuwait.

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