Scientific & Medical Equipment debuts on Tadawul today

Logo of Scientific & Medical Equipment House Co. (SMEH)

Shares of Scientific & Medical Equipment House Co. (SMEH) will begin trading on the Saudi Exchange (Tadawul) as of today, Feb. 28, under the symbol 4014 and ISIN code SA15GGQ1UN19.

The daily price fluctuation limits of +/-30% and static price fluctuation limits of +/-10% will be applied during the first three days of the listing.

From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10% and the static price fluctuation limits will no longer apply.

This will be the third listing on the main market in 2022, after Elm Co. and East Pipes Integrated Company for Industry.

Last year Tadawul witnessed nine listings,including, Alkhorayef Water and Power Technologies Co. (March 1), Theeb Rent a Car Co. (March 29), Tanmiah Food Co. (Aug. 4), solutions (Sept. 30), International Company for Power and Water Projects (ACWA Power) (Oct. 11), Arabian Contracting Services Co. (Al Arabia) (Nov. 15), Nayifat Finance Co. (Nov. 22), Saudi Tadawul Group (Dec. 8), and Almunajem Foods Co. (Dec. 20).

SMEH’s listing will bring the total number of Tadawul-listed companies to 195, excluding 17 REITs.

The company offered six million shares, representing 30% of the company’s capital, at SAR 52 per share, of which 90% was allocated to institutional investors and 10% to retail investors.

The company allocated one share as a minimum per subscriber, while allocating the remaining shares on a pro rata basis at 0.6896%.

Company Info:

The company has been practicing operation, maintenance and healthcare since 1979. It is considered one of the leading companies in this field in the Kingdom.

Main Activities

- Maintenance and operation of devices and equipment: This activity includes providing maintenance for medical devices and equipment. SMEH is the top provider of maintenance and repair for medical devices, equipment and supplies, and is a leader in its area of work. The company’s medical maintenance services are favored and recommended by its public or private sectors. The company is currently carrying out medical maintenance services for many health facilities in most regions of the Kingdom.

- Medical operation and management of hospitals: SMEH is currently supplying labor, and managing and operating a number of medical facilities for a number of government entities (such as university medical centers that are affiliated to the Ministry of Education and public hospitals).  Operation activities also include providing medical human resources, such as doctors, nurses, specialists and consultants. The company’s name has been associated with a number of key hospitals and other medical facilities in the Kingdom.

- Non-medical operation and maintenance: This activity includes maintenance, cleaning and non-medical operation of healthcare facilities and others, by providing adequate infrastructure support in those facilities to ensure the most appropriate work environment is created. In this regard, the company relies on its four-decade experience in carrying out its tasks that are mainly related to non-medical services in medical facilities and maintenance.  For example, the company provides human resources, including engineers, technicians, labor and security guards. It also provides cleaning services, supplies hygiene materials and water, and carries out maintenance of non-medical devices, systems, and equipment, in addition to supplies of consumables and spare parts.

- Commercial agencies: The company and its subsidiaries hold 19 commercial agencies for leading global companies specialized in medical devices and equipment. It is an official commercial agent for these global companies in the Kingdom, helping it provide integrated medical services to its public and private clients, including sale, supply, maintenance, and operation of medical devices and equipment.

- Contracting: This activity involves general contracting of buildings, roads, bridges, electrical, electronic and mechanical works, in public and private sectors.  SMEH’s projects include building hospitals and medical, military and educational facilities, and delivering the necessary infrastructure services such as fire extinguishing systems, security systems and others.

- Catering: This activity focuses on providing catering services, and cooked and uncooked food, to hospitals in the Kingdom, in addition to supplying foodstuffs, meat, poultry products, vegetables and fresh and frozen fruits to hospitals and all sectors. The company delivers its services through a work system based on the most recent relevant international health standards to ensure the best results for its clients. Particularly in catering activities, the company is capable of suppling all types of food for special medical cases such as children, infants, births and other cases that require special nutrition, as directed by the treating physicians.

The company owns stakes in the following limited liability companies:

- Girgas Pharmaceutical Warehouse Co., a wholly-owned subsidiary, which undertakes the activities of pharmaceutical warehouses, retail sale of devices, equipment and medical supplies. Girgas holds a 99% stake in Naqaa Al Mutaheda.

- Roaa Al Hymaya, a 100%-owned subsidiary, which specializes in import, export, wholesale and retail sale of electronic, electrical and mechanical equipment and devices, laundries, incinerators equipment, pumps, generators and their spare parts and maintenance, in addition to the maintenance of specialized medical devices.

- NABD Medical Industries, a 51%-owned subsidiary, which manufactures pacemakers, electrocardiograms, catheters, as well as feeding and suction tubes.

Company’s Properties:

The company owns three properties, in addition to 28 leased properties.