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Al-Mowasah Files Lawsuit for 335.38M Riyals
Al-Mowasat Medical Services Company has announced that a commercial lawsuit has been filed against it before the Dammam Commercial Court by Al Atibaa Medical Projects Company, which is demanding that Al-Mowasat divest its stake in Jeddah Doctors Company in exchange for approximately 335.38 million riyals. The lawsuit pertains to the transfer of the entire shareholding of the company in Jeddah Doctors, which represents 32.42% of the company's shares, for the amount specified in the claim. Currently, Al-Mowasat holds a controlling 51% stake in the company, and no official sales agreement has been signed. The lawsuit does not currently have a precise financial impact, and the company is reviewing the legal documents and defending its rights, emphasizing that the lawsuit will not affect the company's operational flow or the opening of the hospital owned by the company during the current quarter after all licenses are obtained.
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