Mouwasat Medical Services Company expects its revenue to grow 15 percent this year after the company launched in November operations at its Riyadh-based hospital.

 

The 175-bed Mouwasat hospital generated SAR 2 mln in December last year, and was expected to break even in 18 months, it added.

 

The company said it plans to complete expansions at its Jubail-based hospital during the last quarter of 2015, adding 100 beds and 30 outpatient clinics.

 

It has invited bidders for a tender to build a hospital with a capacity of 220 beds and 60-outpatient clinics in Khobar, east of the kingdom’s capital. The winners will be announced before the end of the first quarter.

 

The company also extended its contract with John Hopkins-Aramco, due to expire mid 2015, to mid 2016.

 

Mouwasat’s profit surged 19 percent to SAR 240 mln in 2014, or SAR 4.80 per share. Revenue rose 7 percent to SAR 969 mln in the same period. 

 

Projects

Operation date

Details

Project

Operated by the end of Nov.2014

175 beds

Mouwasat hospital- Riyadh

Q4 2015

100 beds and 30 outpatient clinics

Mouwasat hospital expansion- Jubail

Completed by end of Q1-2015

220 beds and 60 outpatients clinics

Construction of Mouwasat hospital- Al Khobar

Expected to finish final designs by the end of Q4- 2015

120 beds

Mouwasat hospital expansion- Dammam
 

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