Balsm Alofoq pens SAR 1.2M project to purchase equipment for new branch

Balsm Alofoq signs contract with Wadan Medical

Balsm Alofoq Medical Co. signed on Nov. 9 a contract with Wadan Medical Co. to purchase medical devices, equipment, and supplies for its new branch in Al Rass city, Al Qassim region, at a total value of SAR 1.2 million.

In a statement on Tadawul, the company said the contract aims to equip specialized clinics in preparation for the start of operations after obtaining the necessary licenses.

The deal aligns with the company’s strategic expansion plan, the statement added.

The contract extends for one month, and the positive financial impact is expected to reflect once the new branch begins operations following license approvals.

There are no related parties to the deal, the company noted.

The contract was signed within the ordinary course of business and does not include any preferential terms.

According to data available with Argaam, Balsm Alofoq recently signed a contract to lease premises for a new branch in Al Rass, with Suleiman Al-Harbi.

The leased property spans 828 square meters and will be used to establish specialized clinics. The lease extends for 10 years, with a total value of SAR 2.16 million, inclusive of value-added tax (VAT).