Latest news with #SaudiGermanHealth
Argaam
20-05-2025
- Health
- Argaam
Saudi German Health awarded SAR 47.3M contract by Health Ministry
Middle East Healthcare Co. (Saudi German Health) won a SAR 47.3 million contract with the Ministry of Health (General Bureau), entailing the medical operation of the Mina Emergency Hospital 2 project, according to a statement to Tadawul today, May 20. Under the contract, Saudi German Health will provide medical operation services for the 200-bed Mina Emergency Hospital 2 project, delivering urgent care services during the Hajj season. The contractual term is 35 days, said the company, adding that the actual operation of the project is expected to commence on May 27, 2025. Saudi German Health highlighted that the contract, which involves no related parties, is expected to have a positive impact on its financial results.
Asharq Al-Awsat
09-04-2025
- Business
- Asharq Al-Awsat
Saudi Healthcare Sector Posts $1.3 Billion in Profits for 2024 Amid Strong Growth
Saudi Arabia's listed healthcare companies delivered robust financial performance in 2024, reporting a combined net profit of SAR4.86 billion ($1.3 billion), according to data from the Saudi Stock Exchange (Tadawul). The figure marks a 13.65% increase from SAR3.95 billion ($1.1 billion) in 2023, driven by higher revenues, operational transformation, and improved efficiencies across the sector. Total revenues for the year also rose significantly, reaching SAR33.87 billion ($9 billion), up 16.7% from SAR29.02 billion ($7.7 billion) the previous year. Industry analysts attribute this growth to a surge in outpatient visits, pharmacy sales, and a continued push for digital transformation. The sector comprises 11 publicly listed companies, including Dr. Sulaiman Al Habib Medical Group, Mouwasat Medical Services, Dallah Healthcare, Al Hammadi, Care, Saudi Chemical Company (AJA Pharma), Saudi German Health, Fakeeh Care, Al Moosa Health, Dar Al Dawa, and Ayyan Investment. According to data from the Ministry of Investment, the private sector currently provides 24% of healthcare services in the Kingdom, while government institutions account for 60%. The remaining 16% is covered by other public entities. As part of Vision 2030, Saudi Arabia has launched wide-ranging reforms aimed at increasing private sector involvement and shifting healthcare financing toward an insurance-based model. The Ministry of Health is transitioning from its traditional role as a healthcare provider to that of the sole regulator. The National Transformation Program aims to raise the private sector's contribution to total healthcare spending from 25% to 35%. These reforms have created fertile ground for new investment, with more than SAR50 billion ($13.3 billion) in healthcare commitments announced during the Global Health Exhibition in Riyadh last October. Top Performers in 2024 Sulaiman Al Habib Medical Group led the sector with SAR2.31 billion in net profit—accounting for 47.6% of total industry earnings. The group's profits rose 13.16% year-on-year, supported by a 17.8% increase in revenue, which reached SAR11.2 billion in 2024. The company attributed the growth to higher patient volumes in its hospital network and a corresponding rise in pharmacy sales. Mouwasat Medical Services ranked second, reporting SAR645.76 million in profits. Despite a slight 1.81% decline from 2023, the company grew its revenue by 6.4% to SAR2.87 billion. Mouwasat cited an increase in outpatient visits and higher occupancy rates in inpatient wards as key drivers, alongside improved operational efficiency. Dallah Healthcare secured third place with SAR471.2 million in profit, reflecting a strong 30.84% year-on-year increase. Revenues rose 8.93% to SAR3.2 billion. The company attributed its success to improved gross margins, increased efficiency, and better performance from affiliated firms. Other notable performances included Saudi German Health, which reported a staggering 1,555% surge in profits, and Saudi Chemical Company's healthcare division (AJA Pharma), which posted a 59.21% increase in earnings. Analysts: A Standout Year for the Sector Commenting on the sector's performance, Dr. Sulaiman Al-Humaid Al-Khaldi, a financial analyst and member of the Saudi Economic Association, described 2024 as an exceptional year for Saudi healthcare. 'The results reflect the success of strategic health reforms under Vision 2030,' he said, noting government support, rising demand, and digital transformation as key contributors. He highlighted several growth factors, including increased public health spending, the rollout of digital health and preventive care initiatives, rising life expectancy, and growing public awareness of health services. 'Demand for comprehensive and specialized care is increasing, and the sector is rising to meet it,' Al-Khaldi said. He also emphasized the government's commitment to digital healthcare, pointing to investments in telemedicine, unified health records, and artificial intelligence in diagnostics and treatment. Outlook and Challenges Mohammed Hamdi Omar, CEO of consulting firm G-World, expects the sector's momentum to continue. He forecasts profit growth between 12% and 14% in Q2 and Q3 of 2025, rising to 14%–16% by Q4 2025 and early 2026. He pointed to ongoing privatization efforts, increased insurance coverage, and further investment in digital health tools as primary drivers. 'The sector is benefiting from operational efficiency and an expansion of specialized services,' Omar said. He added that government support—estimated at SAR51.75 billion ($13.8 billion)—has improved the investment environment and extended insurance coverage. However, both analysts cautioned about potential risks, including shortages in qualified medical professionals, rising costs, and regulatory changes. They emphasized the importance of aligning with Vision 2030 by investing in innovation, digital transformation, and specialized services. 'Healthcare is no longer just a public service,' Omar said. 'It's becoming a strategic pillar of Saudi Arabia's economic development and a gateway for medical tourism and global competitiveness.'
Mid East Info
08-04-2025
- Health
- Mid East Info
Pioneering Healthcare Excellence: The First Magnet-Recognized Private Hospital in the Riyadh Region
Saudi German Hospital Riyadh has been awarded the Magnet Designation, becoming the first private hospital in the Riyadh region to earn this esteemed recognition. Granted by the American Nurses Credentialing Center, the world's largest and most prestigious nurse credentialing organization, the Magnet Recognition Program acknowledges healthcare organizations for quality patient care, nursing excellence and innovations in professional nursing practice. Makarem Sobhi Batterjee, Vice Chairman of Saudi German Health, stated: 'This achievement aligns with the Saudi Vision 2030 healthcare transformation goals and further solidifies Saudi German Health's role in advancing the nation's healthcare system. We are honored to receive the highest credential internationally as leaders in quality patient care, and we remain committed to continuing our journey of excellence that enhances health services in the region and beyond.' Dr. Ahmed Shebl, Group CEO of Saudi German Health, said: 'The esteemed Magnet recognition strengthens SGH Riyadh's commitment to delivering the highest standards of patient care, nursing leadership, and improved clinical outcomes, all while ensuring a compassionate patient experience. This milestone is not just an achievement for Saudi German Hospital Riyadh; it is a moment of pride for the entire Saudi German Health family and the community in the region.' Ms. Iman Kouwatly, Group Chief Nursing Officer, stated: 'Achieving Magnet Designation as the first private hospital in Riyadh highlights the exceptional leadership of Dr. Eslam El Adwy, our Chief Executive Officer, and Mr. Samer Al Halabi, our Chief Nursing Officer, in guiding the team to this milestone. It is a testament to the team's unwavering commitment to the transformation journey in pursuit of nursing excellence. It gives me great pride to have our Saudi German Hospitals among the elite hospitals worldwide, as only around 9% have earned Magnet Status.' The ANCC Magnet Recognition Program is the gold standard for nursing excellence around the globe. Magnet hospitals demonstrate higher patient satisfaction, lower mortality rates, and superior clinical outcomes. The Magnet Recognition represents a major milestone in SGH Riyadh's journey, reinforcing the institution's commitment to improving healthcare outcomes by emphasizing enhanced patient-centered care and experience.
Zawya
08-04-2025
- Health
- Zawya
Pioneering healthcare excellence: The first magnet-recognized private hospital in the Riyadh Region
Saudi German Hospital Riyadh has been awarded the Magnet Designation, becoming the first private hospital in the Riyadh region to earn this esteemed recognition. Granted by the American Nurses Credentialing Center, the world's largest and most prestigious nurse credentialing organization, the Magnet Recognition Program acknowledges healthcare organizations for quality patient care, nursing excellence and innovations in professional nursing practice. Makarem Sobhi Batterjee, Vice Chairman of Saudi German Health, stated: 'This achievement aligns with the Saudi Vision 2030 healthcare transformation goals and further solidifies Saudi German Health's role in advancing the nation's healthcare system. We are honored to receive the highest credential internationally as leaders in quality patient care, and we remain committed to continuing our journey of excellence that enhances health services in the region and beyond.' Dr. Ahmed Shebl, Group CEO of Saudi German Health, said: 'The esteemed Magnet recognition strengthens SGH Riyadh's commitment to delivering the highest standards of patient care, nursing leadership, and improved clinical outcomes, all while ensuring a compassionate patient experience. This milestone is not just an achievement for Saudi German Hospital Riyadh; it is a moment of pride for the entire Saudi German Health family and the community in the region.' Ms. Iman Kouwatly, Group Chief Nursing Officer, stated: 'Achieving Magnet Designation as the first private hospital in Riyadh highlights the exceptional leadership of Dr. Eslam El Adwy, our Chief Executive Officer, and Mr. Samer Al Halabi, our Chief Nursing Officer, in guiding the team to this milestone. It is a testament to the team's unwavering commitment to the transformation journey in pursuit of nursing excellence. It gives me great pride to have our Saudi German Hospitals among the elite hospitals worldwide, as only around 9% have earned Magnet Status.' The ANCC Magnet Recognition Program is the gold standard for nursing excellence around the globe. Magnet hospitals demonstrate higher patient satisfaction, lower mortality rates, and superior clinical outcomes. The Magnet Recognition represents a major milestone in SGH Riyadh's journey, reinforcing the institution's commitment to improving healthcare outcomes by emphasizing enhanced patient-centered care and experience.
Argaam
24-03-2025
- Business
- Argaam
Saudi German Health sells land plot for SAR 122M
Middle East Healthcare Co. (Saudi German Health) completed the sale of a 4,000-square meter land plot, in the Al-Sahafa district, Riyadh, for SAR 122 million, exclusive of real estate transaction tax. In a Tadawul statement, the company said the buyers are Al-Lujain Architectural Company for Development and Real Estate Investment, with 50% ownership, Abdullah Hamad Al-Mugames Real Estate Development Co. (25% stake), and Mohammed Abdulrahman Al-Mugames Real Estate Development Co. (25% stake). The asset book value is SAR 7.99 million, Saudi German Health said, adding that the sale is part of the company's efforts to strengthen its financial position and improve cash flow. The relevant financial impact will likely appear in the results of the quarter, in which the sale occurred. The sale proceeds will be used to finance the ongoing activity, the medical services provider said, adding that there are no related parties to the deal. According to Argaam data, the company generated capital gains of SAR 114 million.
