Leejam Sports Co. established a joint venture (JV), named Integrated Medical Care Services Co. Ltd., with SAR 100,000 capital, in partnership with Burjeel Gulf Medical Care Co., a subsidiary of UAE-based Burjeel Holding Co.
Leejam Sports owns a 50% stake in the JV, according to a Tadawul statement.
The JV incorporation was completed, and its Articles of Association were approved. In addition, the commercial register was issued on June 14.
The new company will start its operations in the third quarter of 2023, the statement said.
The operator of Fitness Time brands chain signed on Feb. 5 a memorandum of understanding (MoU) with healthcare provider Burjeel Holding Co. to start a partnership in the field of physiotherapy and sports healthcare services in Saudi Arabia, Argaam earlier reported.