Naba Alsaha signs non-binding MoU with Saudi Medical Care to acquire Al Anwar Medical

Logo of Naba Alsaha Medical Services Co.

Naba Alsaha Medical Services Co. signed, on Feb. 27, a non-binding memorandum of understanding (MoU) with Saudi Medical Care Group for the potential full acquisition of Al Anwar Medical.

The purchase price will be determined after the completion of the due diligence, Naba Alsaha said in a statement on Tadawul, adding that the two parties agreed that the deal will include all the land and buildings, as well as all the material and intangible elements they contain.

The MoU has a term of three months, renewable. No financial advisor has been appointed for the transaction, the statement added.

The agreement will enable consultants to access all documents, information, records, etc. related to assets. It also allows obtaining all mandatory regulatory approvals, and, signing the sale and purchase agreement, according to the agreed terms.

The deal was approved by Naba Alsaha’s board of directors, the company noted.

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