SAR 51.07 Million ($13.6 Million) Contract to Scientific & Medical Equipment House

In a recent bourse filing, the Saudi Ministry of Health announced the awarding of a SAR 51.07 million (US$ 13.6 million) project contract to Scientific & Medical Equipment House Company. The contract, finalized on May 29, 2024, entails the medical maintenance of Prince Mohammed bin Abdul-Aziz Hospital in Riyadh over the next five years.

The financial impact of this project is anticipated to begin in the third quarter of 2024, according to company projections.

Notably, Scientific & Medical Equipment House reported a substantial increase in its consolidated net profits in 2023, surging by 142.31% year-on-year, from SAR 15.60 million to SAR 37.80 million.

Source: Mubasher