Care withdraws Riyadh Care Hospital contract from TNC

10/10/2021 Argaam

Logo of National Medical Care Co.

National Medical Care Co. canceled its contract with Tabrak Najed Contracting Co. (TNC), based on the recommendation of Riyadh Care Hospital and the Engineering Supervision Office, according to a bourse statement.

 

The recommendation came due to TNC’s inability to fulfill its contractual obligations as of Oct. 16, the statement added.

 

There is no material impact due to the contract withdrawal.

 

The healthcare services provider will review the offers of other contractors in order to complete the project.

 

In March, Care signed an agreement with Tabrak Najed Contracting Co. to renovate Riyadh Care Hospital at the total value of SAR 32.4 million, Argaam reported.

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