Mouwasat to expand into new regions, growth plan forthcoming

Khalid Al Saleem, Managing Director of Mouwasat Medical Services Co.

Mouwasat Medical Services Co. plans to expand into new regions after identifying strong demand for healthcare services, particularly private hospitals, said Managing Director Khalid Al Saleem.

 He noted that a horizontal expansion plan is in place and will be announced at a later date.

Speaking to CNBC Arabia, Al Saleem explained that the recently announced expansions came after comprehensive studies to meet the company’s growth objectives. He added that all hospitals will offer both core and specialized medical disciplines, tailored to meet the specific needs of each region.

He pointed out that project financing is typically split between 20% self-financing and 80% local bank loans. The company currently holds SAR 500 million in loans, in addition to upcoming projects, noting that interest rates will play a significant role in accelerating development and enabling new investments.

Al Saleem also underlined the strong growth in the healthcare sector’s technological segment, particularly in artificial intelligence (AI).

According to data available with Argaam, Mouwasat’s board of directors on Sept. 2 approved the establishment of a new hospital in Al-Ahsa, as well as the expansion of its hospitals in Qatif and Riyadh, with a total investment of SAR 1.38 billion.