Riyadh – Mubasher: Middle East Healthcare Co (Saudi German Hospital) said that Saudi German Hospital Hail will be officially opened on 16 February and will start to receive patients from 17 February.
The hospital is owned by National Hail Company for Healthcare in which Middle East Healthcare Company owns 32.33% and also has hospital management agreement, according to a bourse filing on Tuesday.
The company noted that the required medical equipment installation and testing have been successfully completed and the required medical and administrative staff have been appointed and are in place.
The financial impact is expected to appear as of the first quarter of 2017and will be resembled in the increase in the number of outpatient clinics from 314 to 344 clinics.
Higher bed capacity from 837 to 987 beds and a 2.5% growth in revenues in 2017 will be among the financial effects, the statement said.
Moreover, the share of Middle East Healthcare Company operating loss is expected to reach SAR 7.5 million for 2017.
Saudi German Hospital posted a 14.37% year-on-year decline to SAR 87.62 million in Q4-16 from SAR 102.32 million in Q4-15.
