Mouwasat, Philips Healthcare Saudi Arabia ink SAR 40 mln deal

19/09/2017 Argaam

Mouwasat Medical Services Co. (Mouwasat) has signed a SAR 40 million deal with Philips Healthcare Saudi Arabia Limited Co. on Sept. 18 to supply and install diagnostic radiology, intensive care, and telehealth devices and systems to the Mouwasat Hospital in Khobar.

 

The deal’s financial impact is expected to show on Mouwasat’s Q4 2017 results, the company said in a statement on Tadawul.

 

The agreement has no related parties.

 

Mouwasat and Philips also signed a two-year agreement to cooperate in healthcare research and development, in compliance with Saudi Arabia’s Vision 2030 and the National Transformation Program 2020.

 

They will work on developing several aspects of healthcare including telehealth services, the statement said.

 

This agreement has no current financial impact, it added. 

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