CMCER signs SAR 30.8M contract with NEOM to operate clinics

Canadian Medical Center Co. (CMCER) signed on Feb. 27 a contract with NEOM, a closed joint-stock company, for the management and operation of clinics at a total value of SAR 30.75 million.

In a statement to Tadawul, CMCER said that the contract is valid for one year. It stipulates the management and operation of medical clinics, as well as the provision of qualified healthcare personnel, medical equipment, and emergency services.

The company clarified that it would operate and manage medical clinics within residential complexes, in addition to providing comprehensive healthcare services, including medical staff and equipment.

It expects this contract to have a positive impact on the financial results starting from Q3 2025, noting that there are no related parties to the deal.

The company also stated that this step aligns with its strategic expansion plans.