Maharah’s subsidiary signs deal to buy 40% of Saudi Medical Systems

Logo of Maharah Human Resources Co.

Maharah Human Resources Co.’s subsidiary, Growth Avenue Co. (GAC) signed a sale and purchase agreement (SPA) with and the shareholders of Saudi Medical Systems Co. (SMS) to acquire 40% of their shares in the latter.

The due diligence process was completed and the SPA was sealed on April 22, Maharah said in a statement to Tadawul.

GAC will submit the deal to the General Authority for Competition to obtain its approval for completing the acquisition. Further updates on the transfer of shares will be announced later on, the statement added.

In March, GAC signed a non-binding memorandum of understanding to acquire a 40% stake in SMS, Argaam reported.