Almujtama Medical, Qutb Medical sign MoU to study establishing urgent care centers

Logo of Almujtama Alraida Medical Co.

Almujtama Alraida Medical Co. (Almujtama Medical) signed today, Dec. 17, a non-binding memorandum of understanding (MoU) with Talal Saleh Bakr Qutb Medical Center Co. (Qutb Medical) to explore potential collaboration in establishing urgent care centers.

In a statement to Tadawul, the company said the MoU will be effective for one calendar year from the signing date, with the possibility of extension through explicit written agreement by both parties.

There are no related parties to the deal, the statement added.

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Additionally, the MoU does not impose any obligation on either party to enter into a future agreement, the company noted.

It may only be renewed through a written agreement between both parties and will automatically terminate upon the signing of a final contract or agreement, or if terminated by either party.