Mubasher: Qatari German for Medical Devices Company (QG Medical) on Monday revealed that it has signed a memorandum of understanding (MoU) with the Qatari Red Crescent.

Under the MoU, QG Medical will supply the Qatari Red Crescent’s needs in the field of relief related to medicines, medical supplies and equipment, according to a filing to the Qatar Stock Exchange (QSE).

The deal was signed by Ali Bin Hassan Al Hammadi, Qatari Red Crescent secretary-general, and Hamad Khamis Al Kubaisi, chairman of QG Medical’s Board of Directors.

“The signing of the MoU reflects Qatar's ability to meet the needs of the Qatari private sector of Qatari Red Crescent in the humanitarian and medical fields,” according to the statement.

For the full-year 2017, QG Medical’s losses hiked 109.2% to QAR 21.69 million, from QAR 10.37 million over 2016.