Almujtama Alraida Medical Signs MoU with Meem Alif Investment for Strategic Collaboration

Almujtama Alraida Medical Co. announced on Sunday the signing of a non-binding memorandum of understanding (MoU) with Meem Alif Investment Company for a one-year period. This MoU aims to capitalize on the growing opportunities in the Kingdom of Saudi Arabia by establishing activities in the trade, supply, and distribution of general and specialty pharmaceuticals, medical supplies, medical equipment, cosmetic products, and other healthcare products.

The agreement supports the highest standards of excellence and business practices, aiming to protect and enhance the reputation of both parties while creating a long-term strategy to ensure attractive returns on investments and promote business growth.

A joint committee will be formed to explore commercial cooperation in various fields, leveraging the expertise of representatives from both parties. The committee may engage third-party experts for a comprehensive assessment. Within ninety (90) days from the MoU’s effective date, the committee is tasked with submitting a comprehensive feasibility study report, covering:

• Regulation and pricing mechanisms for pharmaceutical products

• Evaluation of the market business model, societal impact, and business strategy

• Detailed business model

• Financial model for anticipated investments and expected financial performance

• Required resources, systems, and personnel

Related Parties:

1. Muhammad Abdullah Rashid Abunayan, a major shareholder in Almujtama Alraida Medical Company (5.81% ownership), is the father of Mr. Rakan, Mrs. Ghada, and Mrs. Yara Muhammad Abdullah Abunayan, partners in Meem Alif Investment Company.

2. Abdullah Abunayyan Trading Company holds a 0.13% share in Almujtama Alraida Medical Co. Mr. Muhammad Abdullah Rashid Abunayan owns 8.39% of Abdullah Abunayyan Investment Holding Company, which owns 100% of Abdullah Abunayyan Trading Company.