Equipment House inks SAR 34.8M with Riyadh Second Health Cluster

Scientific & Medical Equipment House Co. (Equipment House) signed, on July 30, a contract for the maintenance and repair of medical devices and equipment for hospitals and health centers within Riyadh Second Health Cluster.

The contract was sealed at a total value of SAR 34.79 million, inclusive of VAT, the company said in a statement to Tadawul.

The relevant financial impact is forecast to show in the fourth quarter of 2024.

The contract was earlier won by the company, which expected the financial impact of the project to appear in Q3 2024. However, delays in the procedures of signing the electronic contract by both parties and issuance of copies pushed the financial impact back to the last quarter of the year, Equipment House explained.

The electronic contract copy was received by the company by the end of Aug. 15, with no related parties to the deal.

In January, Equipment House was awarded the project at a total value of SAR 34.8 million, Argaam earlier reported