Middle East Healthcare Company inaugurates hospital in Egypt

Middle East Healthcare Company (Saudi German Hospital) inaugurated a hospital in Egypt under the administrative supervision agreement with Beit Al Batterjee Medical Company.

Located in Alexandria, the Batterjee Medical City project has 300 beds for inpatient hypnosis patients and 45 specialised clinics, according to a bourse filing.

Saudi German Health highlighted that it will receive 10% of the net profit before tax deduction as administrative supervision fees for the hospital.

In the first nine months (9M) of 2023, the Tadawul-listed company logged net profits after Zakat and tax valued at SAR 143.67 million, an annual leap of 241.91% from SAR 42.02 million

Revenues surged by 26.05% to SAR 1.93 billion in 9M-23 from SAR 1.53 billion in 9M-22, while the earnings per share (EPS) increased to SAR 1.56 from SAR 0.46. ZAWYA