Saudi German Health to establish 2 subsidiaries

One of Middle East Healthcare Co. (Saudi German Health) hospitals

Middle East Healthcare Co.’s (Saudi German Health) board of directors approved the establishment of two wholly-owned limited liability subsidiaries during its meeting held on Dec. 21.

In a statement to Tadawul, the company said the first subsidiary to be established is the Saudi German Pharmaceutical Co. (Saudi German Pharmacies), a limited liability company with a capital of SAR 100,000, operating in managing and running pharmacies, as well as selling and distributing medicines and medical supplies.

The second subsidiary is Saudi German Health for Medical Care and Services, a limited liability company with a capital of SAR 1 million, operating in the provision of healthcare services and supporting operational and medical services in accordance with approved regulations.

The company indicated that this step aims to support its expansion strategy, enhance operational efficiency, and diversify sources of income.

It added that the necessary regulatory procedures to establish the two subsidiaries will be completed with the relevant authorities, and no material financial impact is expected at present.

Any material developments will be disclosed later in accordance with the relevant regulations, the statement added.