SMC patient visits, revenues seen growing in coming period: CEO

Bassam Shaheen, CEO of Specialized Medical Co. (SMC), expects the company’s operational momentum to continue in 2026, supported by rising utilization rates of outpatient clinics and inpatient beds, along with an improving service mix.

Speaking to Argaam, Shaheen said the continued improvement in the operational performance of existing clinics, along with the opening of new clinics, is expected to support growth in patient visits and revenues in the coming period.

He noted that the utilization rate of outpatient clinics reached about 63%, describing it as a healthy level that reflects the network’s ongoing expansion and growth phase. The number of operating outpatient clinics reached 323 by the end of 2025, following the launch of 57 new clinics during the year.

Shaheen also highlighted a strong start to 2026, supported by the launch of the SMC Clinics Center in Al Malqa district, north Riyadh, which represents an important step in the company’s expansion and strengthens its presence in one of the fastest-growing areas in terms of demand for healthcare services.

He explained that Al Malqa's SMC Clinics Center began operations in early 2026 and includes 35 multi-specialty clinics, of which 14 are currently operational, with the remaining clinics scheduled to be gradually launched by the end of the year. Utilization rates are expected to increase further as the operational capacity of these clinics continues to ramp up.

Commenting on the company’s financial results, Shaheen said the fourth quarter delivered a record performance, with net profit surging 412% year-on-year (YoY). He attributed this to several factors, most notably the accelerated growth in outpatient services following the opening of new clinics during the year and the continued ramp-up in their operational capacity.

He added that the gradual shift from long-term care services to higher-margin acute care services supported revenue growth and improved profit margins, in addition to the recognition of a non-recurring gain. The improvement in profit margins during the fourth quarter was also driven by a better service mix.

Shaheen explained that the decline in the contribution from long-term care services was more than offset by the growth in acute care services, which positively supported the company’s profitability during the year, particularly in the fourth quarter.

Revenues grew by 24% in Q4 2025, driven by the expansion of the outpatient clinic network and the opening of 16 new clinics during the quarter, in addition to the continued ramp-up of clinics launched in the first half of the year, as well as strong growth in acute healthcare services.

Inpatient healthcare services also recorded higher utilization levels during the fourth quarter, with inpatient bed occupancy reaching around 84%, including long-term care services.

Shaheen noted that this level reflects sustained demand for the company’s high-quality specialized services, in addition to reallocating part of the capacity toward higher-margin acute care services as part of the company’s strategic shift.

According to data compiled by Argaam, SMC’s net profit rose to SAR 266.2 million in 2025, compared with SAR 185.2 million in 2024, while fourth-quarter profit increased to SAR 134 million from SAR 26.2 million in the same period last year.