Saudi Arabia-based Dallah Healthcare Company (DHC) on Thursday announced extending a joint venture (JV) agreement with AWJ Investment Co. for seven months to establish and operate a hospital in Jeddah.
The extension, that will end on 13 June 2019, allows the parties to get the necessary approvals for their JV, according to DHC’s statement to the Saudi Stock Exchange (Tadawul).
In November 2017, DHC announced inking the contract with AWJ Investment Co. to launch their joint venture.
DHC last reported a 26% year-on-year profit drop in the third quarter of 2018, registering SAR 101.4 million, compared to SAR 136.8 million ($36.46 million).
By 10:48 am Saudi time, DHC’s stock rose 0.34% to SAR 58.20.