Wajd Life approves launch of general medical complex activity

Logo of Wajd Life Trading Co.

Wajd Life Trading Co. said its board of directors approved the launch of its general medical complex activity on Oct. 15.

The activity is included in the company’s objectives under its bylaws and commercial registration.

In a statement to Tadawul, the company said the current phase involves completing and updating the investment feasibility study for the project and assessing the available investment and operational options to determine the most suitable approach.

The company added that the complex’s location, implementation plan, final investment costs, financing requirements, and operational timeline have yet to be determined.

These details will be finalized based on the study’s findings, the assessment of available alternatives, and the completion of the necessary approvals.

It noted that the expected financial impact and the timeframe for its reflection in the company’s financial statements cannot yet be determined, as the assessment of available options remains ongoing and the investment model, associated costs, and operational and financing requirements have not been finalized.

The company also stated that commencing the activity is subject to completing the required regulatory procedures and obtaining the necessary licenses from the relevant authorities.

It confirmed that it would announce any material developments in due course, in accordance with applicable laws and regulations.

Wajd Life added that the launch of the general medical complex activity aligns with its strategy to diversify its income sources and leverage its expertise and capabilities in the healthcare sector.