Bed count at 460, revenue to grow 12% in 2025: Fakeeh Care President

Soliman Fakeeh, CEO of Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care)

Dr. Soliman Abdel Kader Fakeeh Hospital Co.’s (Fakeeh Care) operational beds reached 460 in Q1 2025, up from 441 a year earlier, Group President Mazen Soliman Fakeeh told Argaam.

Total capacity rose to 835 beds, after the opening of Madinah hospital in April 2025, compared to 635 in Q1 2024.

The 3% revenue growth in the first quarter this year was driven by stable performance in Jeddah, strong momentum in Riyadh, and expansion in support services, the president said.

The Jeddah hospital maintained steady patient flow and revenue levels despite new competition. Meanwhile, Riyadh patient volume rose over 20%, with revenue up more than 30% year-on-year (YoY).

He added that home healthcare, emergency services, and "Fakeeh Vision" optical stores helped diversify income and support results.

Fakeeh said net financing costs dropped to SAR 2.2 million in Q1 2025, down sharply from SAR 37.4 million in Q1 2024.

He added that Ramadan and Eid holidays reduced effective working days by seven. Without that impact, patient numbers and revenue could have grown about 9% YoY.

Madinah hospital began operations in April, he said, adding that Al Awali Clinic in Makkah is slated to open in December 2025, followed by Obhur North Medical Center in February 2026 and Zahra Medical Center in June 2026.

He added that Fakeeh College will open a 6,500 square meter (sqm) training and simulation center in September 2025, with capacity for 500 students, bringing total enrollment to 2,190.

Fakeeh expects strong Q2 results, supported by continued growth at Riyadh hospital, expansion of medical centers, and full operations at the Madinah facility.

He projected full-year revenue to grow 12%, with EBITDA rising around 5%.

Fakeeh said the company is working to strengthen its position in Jeddah, expand its “hub-and-spoke” model in Riyadh, and grow its education, home care, emergency, and retail segments.

He added that the group aims to participate in privatization contracts, with a growing focus on advanced medical services and complex surgeries.

Fakeeh reaffirmed the company's commitment to delivering high-quality care and excellent patient experience, supported by strong economic fundamentals and population growth in Saudi Arabia.

Fakeeh Care’s Q1 2025 net profit after minority interest declined 1% YoY to SAR 72.2 million. Net profit before minority interest rose to SAR 67.4 million from SAR 60.7 million in Q1 2024, Argaam earlier reported.