8 Hrs
Source:
الاقتصادية
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Al-Moasara Medical Sued for 335m Riyals
Al-Mowasah Medical Services Company is facing a legal lawsuit filed by Al Atibaa Medical Projects Company, which demands the execution of a full buyout offer for its shares, valued at up to 335.38 million Riyals, in exchange for its exit from Jeddah Medical, in which Al-Mowasah owns 51%. The lawsuit concerns the company's request to relinquish 32.42% of its shares in Jeddah Medical. Its financial impact is currently undefined, with no effect expected on the company's operational activities. The company is preparing to open a new hospital in the current quarter after obtaining the necessary licenses. The case and the required legal responses have been studied, with no sale agreement signed at this stage. Any future developments will be announced as needed.
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