Equipment House wins SAR 95M MoJ contract for medical gear

Scientific and Medical Equipment House Co. said Monday it won a SAR 94.9 million contract from Saudi Arabia's Ministry of Justice to supply and install medical equipment for the ministry's healthcare facilities.

The project covers equipment for multiple MoJ sites, the company said in a filing to the Saudi stock exchange. Work is expected to run 36 months from the contract signing date.

The contract adds to a string of government wins for the Riyadh-based medical equipment supplier. Equipment House reported SAR 1.1 billion in revenue for 2024, with government contracts making up a significant share of its order book.

Shares of the company, listed on the Saudi main market under ticker 4008, have risen about 12% year to date. The stock closed at SAR 78.60 on Sunday.

The MoJ award does not require a shareholder vote or a related-party disclosure, the company said. Equipment House said it would book the contract's financial impact over the project's duration.

The company's backlog stood at SAR 2.3 billion as of the end of the first quarter, according to its latest financial report. The new contract represents roughly 4% of that figure.

Equipment House competes with Al Hammadi Holding and other local medical equipment suppliers for government healthcare tenders. Saudi Arabia's Vision 2030 has driven a wave of hospital construction and medical infrastructure spending across the kingdom.

The contract was awarded through a competitive tender process, the company said without naming competing bidders.