Al-Modawat board approves new subsidiary setup

Al-Modawat Specialized Medical Co.’s board of directors approved on Aug. 19 establishing a new 100% owned limited liability Co. in Egypt for investment in the medical industry, according to a statement to Tadawul.

This will occur after fulfilling the regulatory requirements and obtaining the approvals of the concerned authorities. This move aligns with the company’s strategic vision aimed at growth and business development. Any further developments in this regard will be announced later, the statement added.