The National Medical Care Co. (Care) has obtained regulatory approval to renew its medical services contract with Saudi Arabia’s General Organization for Social Insurance (GOSI), for a period of three years starting Jan.1, 2018.
The contract will be signed in two weeks, the company said in a statement to Tadawul.
Under the agreement, Care will provide medical services for work-related injuries to beneficiaries of social insurance in Riyadh.
The healthcare firm expects to generate around SAR 300 million annually in revenue from the contract, it said, adding that financial impact will reflect on earnings of FY18.
Three of GOSI’s board members are related parties in the deal, the statement said.
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