2003 News Story

Commerce minister approves new health care stock company

Minister of Commerce and Industry Dr. Hashem Yamani has approved the establishment of a national company for medical care as a Saudi stock company. Subscription for the Riyadh-based company, whose capital will initially be confined to its five founders; but after five fiscal years, shares will be allowed to circulate, in line with Article (100) of the Companies System. The company will be concerned with establishing, owning, managing, maintaining and operating hospitals and health care units; and with extension services, both wholesale and retail, in the field of medical equipment and pharmaceuticals.