January 29, 2018

Al Hammadi Company for Development and Investment announces the signing of a non-binding Memorandum of Understanding with Dr. Sulaiman Al Habib Medical Group

Al Hammadi Company for Development and Investment announces the signing of a nonbinding Memorandum of Understanding on 12/05/1439H corresponding to 29/01/2018G with Dr. Sulaiman Al Habib Medical Group with the objective of establishing a company to operate in the wholesale and retail business of medical equipment medical consumables surgery consumables and commercial agencies .

The company will be established after reaching a final agreement on the terms of the partnership and after receiving all necessary approvals and licenses from the concerned parties.

The company capital and the size of the investment will be determined based on the results of studies and reports specific to the company operations.

It is worth noting that the Memorandum of Understanding is valid for three months starting from the date of signing and is subject to extension upon the approval of both parties. There are no related parties involved in this transaction. Subsequent announcements will be made in the event of any new developments related to this announcement.