Al Hammadi inks MoU to acquire 40% stake in Wareed Medical

A hospital of Al Hammadi Holding Co.

Al Hammadi Holding Co. has signed a non-binding Memorandum of Understanding (MoU) to acquire a 40% stake in Wareed Medical LLC.

The MoU is valid for 90 days, with the option for renewal for an additional similar period.

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The final decision to purchase the stake is subject to share valuation, completion of due diligence, and obtaining necessary approvals from the relevant authorities, Al Hammadi said in a statement to Tadawul.

Wareed Medical operates in the laboratory testing and home healthcare sector, with 29 branches in Riyadh.

The company confirmed there are no related parties involved and stated that the financial impact will be determined after the share purchase agreement is signed.

This MoU does not create any legally binding obligation until the final signing of the share purchase agreement. Any developments in this regard will be announced, Al Hammadi said.