Saudi Arabia’s largest private medical provider see 21.3% rise in income in 2020

Mon, 2021-02-22 20:57

JEDDAH: Dr. Sulaiman Habib Medical Services Group (HMG), Saudi Arabia’s largest private medical services provider, has reported a 21.3 percent rise in net income for the last year, as 2020 saw the Kingdom’s healthcare sector grapple with the impact of the coronavirus disease (COVID-19) pandemic.

The medical group’s annual revenue increased 16.85 percent year-on-year to SR5.862 billion ($1.56 billion), while its gross profit grew 22.37 percent to SR1.864 billion.

The group witnessed revenue growth on all levels, including hospitals, pharmacy and solutions, due to the rise of in-patient occupancy during the pandemic, with patient numbers rising to 3.2 million.

“Our healthcare excellence technology solutions played a vital role in our business continuity and response to the COVID-19 pandemic and are a key differentiator for HMG,” Dr. Sulaiman Al-Habibi, HMG’s chairman of the board of directors, was quoted as saying in a press statement.

HMG’s solutions segment introduced “new technology solutions” such as Habib Live-Care, a consultation platform providing patients with access to a live-response team during emergencies, greatly helped governmental entities tackle the pandemic response to patients.

HMG is a private healthcare service provider that has been operational in the Kingdom and other Gulf Cooperation Council countries for 25 years.

Dr. Sulaiman Habib Medical Services Group (HMG) ’s annual revenue increased 16.85 percent year-on-year to SR5.862 billion ($1.56 billion). (Argaam)
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