Saudi German Health expects sustained performance growth: CFO

 Madani Hozaien, CFO of Middle East Healthcare Co. (Saudi German Health)

Middle East Healthcare Co.’s (Saudi German Health) improved performance and results are seen to continue at the same pace witnessed during the first nine months of 2023, CFO Madani Hozaien told Argaam.

The 9M profit surged on the increase of the number of outpatients and inpatients by 24% and 34% year-on-year (YoY), respectively.   

He added that the profit increase in Q3 2023 was driven by the continued improvement of performance efficiency across all hospitals and increased number of inpatients and outpatients. In addition, the group’s capacity was boosted by the optimal operation of expansion at Riyadh Hospital, as well as the new hospitals in Makkah and Al-Jami'ah district, Jeddah.   

The hospitals of Riyadh, Aseer, Dammam, Makkah and Hail contributed most to the group’s revenues in 2023, the CFO noted, highlighting that the hospitals of Dammam and Hail have turned profitable. 

Saudi German Health posted a net profit of SAR 143.7 million in the first nine months of 2023, while Q3 2023 profit leapt to SAR 53.3 million, Argaam earlier reported.