ArabFinance: International Company for Medical Industries (ICMI) has signed a non-binding letter of intent (LOI) to acquire a major company specialized in the production of medical clothes, according to a filing to the Egyptian Exchange (EGX) on Sunday.
The transaction will be pending the ICMI’s approval of the results of legal, financial, technical, and tax-related studies.
Method and value of the acquisition is set to be disclosed in a month in case the results of the mentioned studies are satisfactory to the company.
Established in 2004, ICMI operates within the health care equipment and services sector focusing on health care equipment.