Saudi German Health board approves investment in Batterjee Medical Hospital

23/05/2022 Argaam

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Middle East Healthcare Co.’s (Saudi German Health) board of directors approved to enter as an investor partner in Sobhi Abdul Jalil Batterjee Medical Hospital in Jeddah, according to the bourse filing.

 

The company will contribute SAR 70 million, or 23.33% of the project's capital of SAR 300 million, provided that the contribution will be paid during 2022 and 2023.

 

Saudi German Health signed on Jan. 28, 2021 a non-binding memorandum of understanding (MoU) with Sobhi Abdul Jalil Batterjee Medical Hospital in Jeddah to enter as an investor partner in the hospital in exchange for cash, according to Argaam.  

 

In October 2021, Saudi German Health agreed with Al Sobh New Medical Co., a related party that owns Sobhi Abdul Jalil Batterjee Medical Hospital, to extend a memorandum of understanding (MoU) to enter as an investor partner in the hospital, Argaam reported.

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