SMC wins SABIC Hospital project with SAR 3.8B expected revenues

One of SMC Hospitals

Specialized Medical Co. (SMC) said its subsidiary, Al-Mukhtas Al-Sehhi Medical Co., in which it holds a 51% stake, received a project award letter from Saudi Arabia's Ministry of Health.

In a statement to Tadawul, SMC said the contract covers the operation and management of the SABIC Behavioral Care Specialist Hospital under a public-private partnership model.

The company said the project is expected to generate about SAR 3.8 billion, including VAT, over the 15-year contract period.

The facility includes 150 beds, 19 outpatient clinics, and six day-care rooms. Services will cover medical and non-medical operations, facility and equipment management, as well as specialized clinical and non-clinical services in mental health, addiction treatment, rehabilitation, and aftercare.

SMC added that the award does not constitute a binding legal or financial obligation until the contract is signed by all parties, and that any material developments will be disclosed in due course in line with applicable regulations.

The deal does not involve any related parties.