Riyadh – Mubasher: National Medical Care Company renewed its contract with the Company for Cooperative Insurance’s (Tawuniya) on Tuesday to provide medical services for the underinsurance in Riyadh.
The contract is valid for three years starting 1 July 2016; it includes the working units of Riyadh Care Hospital, National Care Hospital and Family Care Health Centre, according to a bourse filing on Wednesday.
The agreement represents around 5% of the medical care company’s total revenues. Average revenues of the contract totalled SAR 56 million annually in the last two years.
The contractual conditions were reviewed with Tawuniya, including service prices. The contract is likely to lead to higher revenues of not less than 10%, starting from the third quarter of 2016.
The Saudi-listed company confirmed working under a strategy to diversify costumer sectors to include institutions, companies, governmental and non-governmental hospitals.
