Canadian Medical Center Company has entered into a SAR 16.50 million contract with Johns Hopkins Aramco Healthcare, marking a significant step in its expansion plans.
The agreement entails operating nine healthcare clinics over 24 months, aligned with the company’s strategy for growth and expansion, as disclosed in a recent bourse announcement.
This deal is anticipated to have a positive impact on Canadian Medical Center’s financial performance, beginning in the second half (H2) of 2024.
Earlier in March, Canadian Medical Center appointed Al Rajhi Capital as its financial advisor to facilitate the transfer of its shares to the main market.
For the 12-month period ending on December 31, 2023, the company reported a net profit of SAR 15.71 million, reflecting a slight increase of 0.36% year-on-year from SAR 15.65 million. Revenue also saw a robust growth of 23.53%, climbing to SAR 100.34 million from SAR 81.22 million in 2022. Meanwhile, the earnings per share (EPS) remained steady at SAR 0.20.
