Almujtama Medical signs non-binding MoU to provide e-services, import drugs

Almujtama Alraida Medical Co. signed a non-binding MoU with Badayat Al-amal For Trading Co. to provide e-services, import drugs

Almujtama Alraida Medical Co. signed today, Oct. 7, a non-binding memorandum of understanding (MoU) with Badayat Al-amal For Trading Co.

In a statement to Tadawul, the company stated that the MOU was signed based on the two parties' desire to leverage each other’s capabilities. It also aims to expand e-commerce, supply chains, and import pharmaceuticals, medical devices, as well as to begin transitioning to online services and expanding import and distribution operations.

The MoU is effective for 18 months from the signing date, with the option to terminate earlier by mutual written consent or extend the term through a written agreement between both parties.

There are no related parties to the deal, the company noted, adding that it does not entail any financial, legal, or regulatory obligations on either side, the statement added.