Dubai, UAE — Healthcare group Saudi German Health (SGH) achieved a net profit of SAR 50 million ($13.33 million) in the first quarter, marking a 145 percent growth compared to Q1 2022.
SGH generated total revenues of SAR628 million in Q1 2023, the highest the group has ever achieved in a single quarter, driven by improvements across SGH’s entire network of medical facilities on increased census and optimized case mix, the company said in a statement.
On a group level, the group served a total of 21,000 inpatients and 495,000 outpatients in Q1 2023. Over the past 12 months, SGH added four new medical facilities to its network, including a clinic complex in Abha, a specialized hospital in Hai Al Jamea in Jeddah, a 300-bed tertiary hospital in Makkah, and a new medical tower in Riyadh.
Makarem Sobhi Batterjee, President and Vice Chairman of Saudi German Health, said, “I believe there is still much more we can offer to the market. I have confidence that we are on the right track, and I am positive that we will continue to build upon the solid results achieved in this quarter throughout 2023.”