Dallah signs SAR 112 mln healthcare partnership contract with Siemens

Dallah Healthcare Co. has signed a long-term strategic partnership contract worth SAR 112 million with Siemens Healthcare Ltd., it said in a bourse statement on Monday.

Under the terms of the contract, Siemens Healthcare will provide technical support, develop medical skills and replace current equipment for X-ray divisions for ten years.

The contract also includes operating and providing technical support for radiology sections in all hospitals that would be appointed to Dallah by private and public sector.

The financial impact for the relevant period will be positive as there will be reduction in the cost of assets and maintenance, the statement said.

It will be reflected on the financial performance starting from the first quarter of 2020.

“Being the first of its kind in Saudi Arabia, the joint venture between Dallah and Siemens Healthcare will aim to be in-line with National Transformation Plan in the healthcare sector and achieve the Vision 2030 goals,” the statement read.