Latest news with #FakeehCare
Zawya
25-05-2025
- Business
- Zawya
Fakeeh Care awards $27mln contract for new medical centre in Jeddah
Dr. Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care) has broken ground on a new medical center in Al Zahra district in Jeddah. The company awarded a 101.8 million Saudi riyals ($27.14 million) construction contract to its wholly-owned subsidiary, Advanced Horizons Contracting Company, Fakeeh Care said in a statement to the Saudi stock exchange on Sunday. The project's construction and finishing cost will be funded by Yaser Yousef Naghi for Investment Company (lessor) as part of the deal. In October 2024, Fakeeh Care signed an agreement with Yaser Yousuf Naghi to build and lease a medical centre in Al Zahra district. No project completion was given. (Editing by Anoop Menon) (
Zawya
12-05-2025
- Business
- Zawya
Fakeeh Care Group reports net profit of SAR 67.4mln for 1Q-2025
Fakeeh Care continues to strengthen its strategic focus on case complexity and innovation, expanding its capabilities across the Group to deliver high-value healthcare services and advanced treatments. Jeddah, KSA: Dr Soliman Abdel Kader Fakeeh Hospital Company and its Subsidiaries ('Fakeeh Care Group', 'FCG', 'Fakeeh Care', the 'Company' or the 'Group'), a leading fully integrated academic healthcare provider listed on TASI (SYMBOL: 4017 and ISIN code SA562GSHUOH7), announces today its financial results for the first quarter ended 31 March 2025, reporting revenues of SAR 701.0 million, a 3.0% year-on-year increase from SAR 680.3 million in 1Q-2024 despite the prolonged impact of Ramadan and Eid Al Fitr holiday, which led to the loss of the equivalent of seven working days compared to 1Q-2024. Net Profit for the quarter reached SAR 67.4 million in 1Q-2025, up 11.0% y-o-y with net profit margin expanding by c.70 bps to 9.6%. Growth during the quarter was supported by an increase in patient volumes and a Group-wide improvement in business mix with enhanced average revenue per patient. The total number of patients served (including inpatient admissions and outpatient visits) reached approximately 432.2 thousand during 1Q-2025 (excluding free follow-up visits), up 0.9% y-o-y despite the loss of the equivalent of seven working days in 1Q-2025 compared to 1Q-2024. It is worth noting that when normalizing for the impact, total footfall and revenue would have each grown by c.9% versus the same quarter last year. Commenting on the Group's performance, FCG's President Dr. Mazen Soliman Fakeeh said: 'In the first quarter of 2025, Fakeeh Care Group delivered a solid performance marked by steady revenue growth despite the prolonged impact of Ramadan and Eid Al Fitr. Our continued focus on enhancing business mix and improving revenue per patient supported our growth trajectory, with total patient volumes remaining strong. This reflects the strength of our integrated healthcare platform, which is well-positioned to capture demand across the Kingdom. The operational ramp-up at our Riyadh Hospital and the commencement of operations at DSFH Madinah further emphasize our strategy to expand our reach and scale across the Kingdom.' During the quarter, Riyadh Hospital's continued operational ramp-up supported the Group's patient volumes with the facility serving a total of c.47 thousand patients in 1Q-2025, up 20% year-on-year in 1Q-2025 while gross revenue climbed by 35% year-on-year. The hospital is rolling out key service offerings throughout 2025, namely IVF, oncology, and mental health inpatients, further enhancing its patient base mix. DSFH Riyadh was honoured with a 5-star rating by the World's Best Hospitals platform in collaboration with Newsweek and Statista, based on an evaluation across five essential pillars—quality of healthcare services; efficiency and speed of service delivery; patient safety and overall experience; innovation in medical technologies and information systems; and an outstanding, attractive work environment for top talents—all of which the hospital met with top marks. Additionally, the Group's newest facility in Madinah has commenced operations in April 2025 with a plan to ramp-up capacity and utilization over the next 12 months as demand accelerates. DSFH Madinah will provide much‑needed access to comprehensive, top‑quality healthcare services for residents and visitors of the governorate and is expected to serve high complexity cases through its one-stop-shop centres of excellence, including a state-of-the-art Oncology Centre of Excellence – the only 360-degree oncology service offering in Madinah. Fakeeh Care Group is also strengthening its healthcare platform through key partnerships aimed at advancing innovation. The Group signed a strategic MoU with Fosun Pharma to introduce cutting-edge cell- and gene-therapy solutions—most notably CAR-T—as well as AI-powered digital pathology and remote diagnostics to the Kingdom, supporting Saudi Vision 2030 and positioning Saudi Arabia as a regional hub for healthcare innovation. Fakeeh Care also signed an MoU with global firm Sngular to explore a strategic partnership focused on healthcare AI, with plans to establish an AI and Data Analytics Centre of Excellence to further enhance medical services and patient experience—underpinning its collaboration with the Saudi Authority for Research, Development and Innovation (RDIA) to drive cutting-edge research, foster public-private innovation in line with Saudi Vision 2030, and accelerate the development and implementation of AI-driven solutions across the Kingdom's healthcare ecosystem. Finally, the Group was awarded the tender to provide 725 ambulatory teams to support the Kingdom's management of the 2025 Hajj season valued at SAR 80 million. This Saudi Red Crescent Authority award certifies the Group's excellence and capabilities in the ambulatory field and marks another important step in expanding the Group's leadership in emergency medical services and delivering critical healthcare support at a national scale, in addition to its ability to secure public tenders on the back of its holistic operational ecosystem. Dr. Mazen Soliman Fakeeh added: 'The investments we are making in innovation, infrastructure, and marketing are all designed to fortify Fakeeh's competitive position in the market. The Group's holistic ecosystem and well-integrated network that was developed over years of strategic building and structuring continues to set it up for success on the privatization front. We are deeply honoured for the privilege of being considered and winning the tender by the Red Crescent Authority to support the Kingdom's efforts in managing emergency services for the 2025 Haj season.' 'With a clear focus on our strategic priorities and a firm foundation, Fakeeh Care is well-positioned to continue advancing its leadership in Saudi Arabia's healthcare sector, and we remain committed to supporting the Kingdom with all our resources in its mission to transform the healthcare industry,' he concluded. A testament to the Group's leadership and commitment for innovation, Fakeeh Care clinched two prestigious accolades at the 3rd Council of Health Insurance Awards— the Digital Innovative Sustainability Award for Private Hospitals and the Golden-level Excellence in Delivering PROMs Strategy Award for Dr. Soliman Fakeeh Hospital in Jeddah. Further cementing our regional and global standing, Dr. Soliman Fakeeh Hospital in Jeddah earned a 5-star rating in the Global Hospital Rating by Newsweek and Statista—ranking it among the top three hospitals in the Middle East and North Africa. These awards reaffirm our relentless pursuit of excellence and patient-centred care across both our flagship institutions and the facilities we manage. Fakeeh Care Group's complete 1Q-2025 Earnings Release with management's analysis of the Company's performance is available for download on About Fakeeh Care Group Established in 1978 by the late Dr. Soliman Fakeeh, the Fakeeh Care Group stands as a pioneer in integrated healthcare services in Saudi Arabia. Our comprehensive healthcare offering includes our core healthcare services ranging from ambulatory care to secondary and tertiary care, supported by Emergency Medical Services and Fakeeh Home Healthcare. Additionally, our offerings are enhanced by our industry-leading academic healthcare programs. In 2022, after a period of significant growth in our home city of Jeddah, the Group embarked on a Kingdom-wide expansion strategy to bring our well proven hub-and-spoke model and medical support services to major cities across Saudi Arabia. In June 2024, Fakeeh Care Group successfully concluded its initial public offering (IPO) on the Tadawul. The IPO raised gross proceeds of SAR 2.9 billion (US$ 764 million) for the Company and the Selling Shareholders of which SAR 1.7 billion will be used to support and accelerate the Group's growth strategy. For further information, please contact: Fakeeh Care Group e-mail: investors@
Argaam
12-05-2025
- Business
- Argaam
Fakeeh Care subsidiary signs SAR 17.2M supervision contract for new hospital in Makkah
Dr. Soliman Abdel Kader Fakeeh Hospital Co.'s (Fakeeh Care) subsidiary, Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care Group), signed a contract with Arabtech Jardaneh & Partners Engineering Consultants to oversee and monitor the construction of the new Dr. Soliman Al Fakeeh Masar Hospital in Makkah, at a total value of SAR 17.2 million (excluding VAT). According to a statement to Tadawul, Fakeeh Care Group is to provide comprehensive supervision and consulting services for the construction site of the hospital. This includes monitoring the project timeline, quality control, safety procedures, and cost compliance. The contract also includes comprehensive supervision of civil, structural, mechanical, electrical, plumbing, and architectural works. It covers the approval of execution drawings and submission documents, the provision of periodic progress reports, oversight of testing and pilot operation, and preparation of final handover documentation, the statement added. The contract was signed on May 11 and is effective as of the date of signing the contract for 42 months extendable should the main construction contract be extended. The relevant financial impact is expected to be reflected throughout the execution period of the contract, the statement noted, adding that there are no related parties to the deal.
Argaam
28-04-2025
- Health
- Argaam
Fakeeh Care inks MoU with Fosun Pharma to develop Cell-Gene Therapies
Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) and its subsidiaries, Fakeeh Care Group and Fakeeh Care, signed a strategic memorandum of understanding (MoU) with global innovator Shanghai Fosun Pharmaceutical Co. Ltd. to bring advanced cell- and gene-therapy solutions—most notably CAR-T—as well as AI-powered digital pathology and remote diagnostics to the Kingdom. Aligned with Saudi Vision 2030, the partnership seeks to accelerate local development and delivery of cutting-edge treatments, enhance diagnostic accuracy, and establish Saudi Arabia as a regional hub for healthcare innovation, the company said in a statement to Tadawul. Advanced cell and gene therapy solutions, as well as AI-powered digital pathology and remote diagnostic services, will be introduced to the Kingdom of Saudi Arabia, the statement added. The company explained that the MoU was signed on April 27, 2025, and is valid for one year.
Argaam
17-04-2025
- Business
- Argaam
Fakeeh Care retracts recommendation to repurchase shares due to regulatory reasons
Dr. Soliman Abdel Kader Fakeeh Hospital Co.'s (Fakeeh Care) board of directors decided to retract the previous recommendation to repurchase a part of its own shares, which was intended to be held as treasury shares. In a statement to Tadawul, the company said the decision was made to avoid reducing public ownership below the minimum regulatory threshold. Fakeeh Care affirmed its continued commitment to full compliance with applicable laws and regulations. The number of shares proposed for repurchase represented approximately 0.45% of the company's total outstanding shares, which amount to 232 million shares, with a nominal value of SAR 1 per share. The company's board of directors recommended on April 9 the repurchase of up to 1.04 million of its ordinary shares to be retained as treasury shares, Argaam data showed.
