Middle East Healthcare Co. (MEAHCO), the owner and operator of the Saudi German Hospital (SGH), has opened the Saudi German Hospital at Sharjah, the company said in a bourse statement on Tuesday.
The new facility, which includes 50 inpatient beds and 25 outpatient clinics, is owned by Tatweer Healthcare Co. LLC, in which Bait Al Batterjee Medical Company (BAB) holds a majority stake. Tatweer is a related party that has a management supervision agreement with MEAHCO.
MEAHCO owns no stake in the new hospital and offers management supervision under its asset-light revenue model.
The Sharjah-based facility will start receiving patients from June 5, after obtaining the required licenses.
MEAHCO will receive management supervision fees at 10 percent share from net profit before tax.
The company expects to start receiving management supervision fees from Q 1 2021, the statement added.
Last month, MEAHCO’s board of directors approved ten-year agreements signed with Bait Al Batterjee Medical Co. Ltd. to provide management supervision for six under-construction hospitals in the UAE (Sharjah and Ajman) and Pakistan.
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