Care says PSMMC contract generates SAR 120M in annual revenue

Argaam

a day ago

The total capacity is 250 patients at a time, with about 200 beds currently in operation, it added.
The company also estimated that annual revenues from the contract range between SAR 100-120 million, depending on average occupancy and services provided, with the potential for additional revenue from medical procedures not included in the basic package.
In an investor meeting to review H1 2025 results, the company added that it delivered strong operational and financial performance in the six-month period, driven by organic growth in its existing facilities and a positive contribution from the recently acquired Al Salam Hospital.
Care further indicated that revenues increased year-on-year, driven by a 40% growth in patient numbers, with outpatient visits exceeding 460,000, and inpatient admissions rising by 47% to more than 14,000.
Inpatient revenues rose by 30% YoY, in light of an increase in inpatient admissions and higher average revenue per case. Outpatient revenues grew by 34%, driven by strong demand for outpatient care services across all locations, according to the company.
It added that surgical procedures rose by 44% to 12,000, with Al Salam Hospital contributing 18% of the total, while bed occupancy increased to 81% compared to 61% in the same period a year earlier, despite a 16% capacity expansion.
At the level of the company's financial position, Care stated that assets reached SAR 2.5 billion, a 1% increase year-to-date, while liabilities declined to SAR 830 million thanks to the repayment of long-term obligations.
Meanwhile, operating cash flows improved to SAR 80 million, compared to negative cash flows of SAR 17 million in the same period last year, backed by strong operational performance and lower Zakat payments and end-of-service benefits. Net cash and cash equivalents reached SAR 477 million by the end of June 2025, an increase of SAR 213 million, according to the company.
Care also reiterated its continued focus on strategic expansion, diversifying revenue sources, and further improving operational efficiency, driven by its government contracts and diversified healthcare services.