Riyadh – Mubasher: Scientific & Medical Equipment House Company has received the approval of a SAR 139.79 million project with the Ministry of Health.

The project award covers the general maintenance of King Khalid Hospital in Tabuk region for five years, according to a bourse filing.

Scientific & Medical Equipment expected that the financial impact of the deal will be reflected during the first quarter (Q1) of 2024.

The lisped company will announce any future developments regarding the project in due course.

Last June, the listed firm announced the board’s proposal to raise its capital by 50% to SAR 300 million from SAR 200 million through the issuance of bonus shares.