Riyadh – Mubasher: Growth Avenue Investment Company (GAG), a subsidiary of Maharah Human Resources Company, has signed a non-binding memorandum of understanding (MoU) to acquire a 40% stake in Saudi Medical System Company.

The two parties have sealed the renewable MoU for 90 days from 21 March, according to a bourse disclosure.

Established in 1996, Saudi Medical System is specialised in providing catering services to hospitals.

Last September, Maharah’s unit GAG signed a MoU with Alshifa Al Arabia Medical Company Company to acquire an 85% stake in the latter.