Saudi German Health aims to merge subsidiaries into Tadawul-listed company: exec

Makarem Batterjee, President and Vice Chairman of Middle East Healthcare Co.

Middle East Healthcare Co. (Saudi German Health) aims to merge its subsidiaries in the Middle East into one joint stock company listed on the Saudi Exchange (Tadawul), President and Vice Chairman Makarem Batterjee told CNBC Arabia. 

The move is expected to take place in the coming three to five years, he added.

Saudi German Health is one of the fastest-growing companies and has the largest number of hospitals in the Middle East via different subsidiaries.

The group holds stakes in different hospitals outside the Kingdom, the top executive said, adding it is expanding in North Africa and aims to enter other Asian countries.

Saudi German Health currently focuses on dividend payout more than capital increase, Batterjee said, noting that the group has emphasized on expansions over the last period. 

The company is currently striving to strike a balance between dividend payout and expansions, which is its topmost priority over the coming years, he noted. 

The medical services provider reported a surge in 2022 net profit after Zakat and tax to SAR 75.2 million, compared to SAR 17.2 million in 2021. The company swung to a net profit of SAR 33.2 million in Q4 2022, according to data compiled by Argaam.