Jacobs Bags Project Management Contract From Johns Hopkins Medicine

• Johns Hopkins Medicine has selected Jacobs Engineering Group Inc (NYSE:J) to provide project management services to redevelop laboratory space on its medical campus in Baltimore, Maryland. Financial terms were not disclosed.
• Plans are to renovate Johns Hopkins Hospital's existing Children's Medical and Surgical Center (CMSC) and construct a new 12-story North Tower addition.
• The contract includes project management services for 531,609 square feet of renovations and additions for the CMSC North Tower project, replacement of the existing façade, construction of research laboratories, and a new entrance to The Johns Hopkins Hospital from Monument Street.
• Price Action: J shares are trading higher by 0.34% at $130.05 on the last check Wednesday.