Middle East Healthcare Co. (MEAHCO), the owner and operator of the Saudi German Hospital (SGH), has not yet signed the ten-year agreements with Bait Al Batterjee Medical Co. Ltd. to provide management supervision for six under-construction hospitals in the United Arab Emirates and Pakistan, the firm said in a statement to Tadawul on Sunday.
MEAHCO’s board of directors has just initially approved the deal, which is subject to approval during the next general assembly meeting, the statement said.
The company will announce any related updates in due course.
The upcoming hospitals will operate under the brand of Saudi German Hospitals (SGH), MEAHCO said earlier this month.
Of the two UAE-based hospitals, the Sharjah facility will start operations in Q2 2018. Relevant financial impact will appear on earnings of 2020.
Meanwhile, the Ajman hospital is expected to start operations in Q3 2019, with financial impact appearing on financial results in 2021.