Tibbiyah registers GenaLive Medical as new JV firm with BGI Almanahil

Logo of Arabian International Healthcare Holding Co. (Tibbiyah) 

Arabian International Healthcare Holding Co. (Tibbiyah) announced that the commercial registration of a new company, to be established in partnership with BGI Almanahil Health for Medical Services, was issued in accordance with the regulations on Dec. 25.

In a statement to Tadawul, Tibbiyah said the new company was registered under the name GenaLive Medical Co.

The transaction has sought all regulatory approvals and satisfied all condition precedents, including the non-objection certificate received from General Authority for Competition, the statement said.

There are legal expenses related to the commercial registration process, it added. In July, Tibbiyah entered into a definitive joint venture (JV) agreement with BGI Almanahil Health for Medical Services for establishing and operating a 50-50 owned limited-liability company, Saudi Advanced Medical Lab (SAML), Argaam earlier reported.