Mouwasat says due diligence 'ongoing' to fully acquire Egypt’s Al-Marasem International Hospital

One of Mouwasat Medical Services Co.’s hospitals

Mouwasat Medical Services Co. announced today, Aug. 22, that due diligence work is still “ongoing” for the full acquisition of Egypt-based Al-Marasem International Hospital, according to a bourse filing. 
 

The medical services provider expects the due diligence process to be completed in the fourth quarter of 2022, adding that any subsequent updates pertaining to the previously-signed memorandum of understanding (MoU) will be disclosed in due course. 
 

On May 22, Mouwasat entered into a non-binding MoU to take over Al-Marasem, a limited joint-stock company. Al-Marasem will be 100%-owned by Mouwasat when a final agreement is reached for a cash consideration and after the completion of the required due diligence, Argaam earlier reported.
 

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