Fakeeh Care targets over 12% growth in 2025 on new expansions

The group will focus on continued growth at Dr. Soliman Fakeeh Hospital and other medical centers in Jeddah. It also seeks to reach break-even at the Riyadh hospital, while accelerating growth at the Madinah hospital, he added.

Moreover, the group intends to open Dr. Soliman Fakeeh Medical Center in Al-Awali, Makkah, and Dr. Soliman Fakeeh Medical Center in Al-Zahra, Jeddah.

There is also a plan to expand the simulation center affiliated with Fakeeh Colleges of Medical Sciences, which will contribute to increasing the capacity to more than 3,000 students, according to Abdo.

He also highlighted that the group recorded robust performance in Q2 2025, with revenues rising by 24% YoY.

Several drivers contributed to this uptrend, mainly increased patient footfall across the group's facilities. The number of outpatient and inpatient visits rose by 15% and 6%, respectively, and surgical operations grew by 22%. The group catered to more than 465,000 patients during the quarter.

Dr. Soliman Fakeeh Hospital and other medical centers in Jeddah maintained their positive momentum despite the high competition, achieving a 14% growth in the number of patients across Jeddah facilities.

Meanwhile, Riyadh Hospital, which entered its third year of operation, witnessed a 28% increase in clinic visits, a 33% hike in inpatients, and a 146% rise in surgeries, while the bed occupancy reached 65%, amid a gradual expansion in capacity, bringing the number of licensed beds to 102 out of a full capacity of 185.

The hospital, according to the top executive, is projected to reach the break-even point this year.

Abdo also indicated that Madinah Hospital began partial operations about two months ago, with an initial capacity of 48 beds and 30 clinics. It currently employs nearly 50 doctors.

The latter hospital’s revenues relied primarily on cash patients and are expected to grow gradually after the completion of insurance contracts. “The group's four medical centers in Jeddah have recorded remarkable growth, along with supporting companies, most notably the Home Healthcare Co., which has expanded to include six cities. Meanwhile, the number of beneficiaries of its services rose from 43,000 to 86,000 patients, a growth of above 100%,” he stated.

The group's Emergency Medical Services Co. implemented a project with the Saudi Red Crescent Authority to provide 725 emergency response teams, comprising more than 3,500 paramedics, in addition to 30 ambulances, to provide emergency medical services and coordinated care during the Hajj season. This came through the award of an operating contract between the two parties.

This is in addition to the growth of the businesses of other companies, such as Fakeeh Technologies and Fakeeh Optics, according to Abdo.

He indicated that this revenue uptick had a positive impact on profitability, with net profit rising by 73% to SAR 82 million, backed by revenue growth and the repayment of most debt obligations using the offering proceeds. This in turn cut financing costs and generated returns from available liquidity in short-term investments, besides improving operational efficiency and reducing waste.

The group's revenues amounted to nearly SAR 1.5 billion in H1 2025, with the healthcare segment accounting for SAR 1.4 billion, marking a YoY surge of 14%.

Meanwhile, the supporting companies recorded revenues of approximately SAR 62 million, up 13% YoY, and Fakeeh Colleges of Medical Sciences recorded revenues of about SAR 58 million, an increase of 8%, he added.

Abdo also indicated that Fakeeh Care’s debt currently does not exceed SAR 580 million, while the group's liquidity stands at nearly 470 million, divided into cash and short-term investments.

According to Argaam’s data, Fakeeh Care posted a net profit after excluding minority interest of SAR 154.3 million for the first half of 2025, a 28% rise from SAR 120.2 million a year earlier.

In Q2 2025, net earnings leapt 73% to SAR 82.1 million, from SAR 47.47 million in the second quarter of 2024.