Saudi German Hospital extends MoU with Sobhi Batterjee Hospital for 90 working days

06/07/2021 Argaam

Logo of Middle East Healthcare Co.

Middle East Healthcare Co. (Saudi German Hospital) announced today, July 6, extending the non-binding memorandum of understanding (MoU) signed with Sobhi Abdul Jalil Batterjee Medical Hospital in Jeddah, according to a bourse filing.

 

The MoU will be extended for an additional 90 working days, which started from the expiry of the original period on June 30.

 

The extension will allow the company to complete due diligence checks and other preparatory work to implement the deal agreements.

 

The company will disclose any material developments in due course.

 

In January, Saudi German Hospital signed a non-binding MoU with Sobhi Abdul Jalil Batterjee Medical Hospital in Jeddah to enter as an investor partner in the hospital in exchange for cash.

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