Almujtama Alraida inks partnership agreement to set up LLC

Logo of Almujtama Alraida Medical Co. 

Almujtama Alraida Medical Co. inked a partnership agreement with Talal Saleh Bakr Qutb Medical Center Co. (Qutb Medical) to establish a limited liability company, named Community Doctor Medical Care Co., with a capital of SAR 100,000, according to a statement to Tadawul.

The new entity’s ownership will be equally divided between both parties.

The agreement aims to establish and operate urgent care centers within or outside the branches of Almujtama Alraida pharmacies, as well as to establish, operate, and manage medical complexes to provide healthcare services.

The headquarters of the new company will be in Jeddah, Saudi Arabia.

Any significant developments regarding the partnership agreement would be announced later.

According to data available on Argaam, Almujtama Alraida announced in December 2024 signing a non-binding memorandum of understanding (MoU) with Qutb Medical to explore cooperation opportunities for establishing urgent care centers.