Care's Q3 2021 profit growth driven by high revenue, low costs: CEO

Care CEO Abdulaziz Alobaid

National Medical Care Co.’s (Care) Q3 2021 profit growth is attributed to high revenue and low direct and operational costs, CEO Abdulaziz Alobaid told Argaam in an exclusive.

He added that it is early to comment on the increase in the costs of renovating the National Hospital of Riyadh building after canceling the contract with Tabrak Najd Contracting Co. (TNC).

When asked about the contributions of patient visits, including admissions and surgeries, to revenue, the CEO said: "We do not disclose revenue contributions from inpatients and surgeries separately."

The medical services provider will announce further developments about hiring a new contractor on Tadawul, Alobaid said.

Q3 2021 net profit after Zakat and tax more than doubled to SAR 33.2 million from SAR 16.3 million a year earlier, according to data compiled by Argaam.