Saudi German Hospital to invest $18.66mln in medical project

The Saudi listed firm pointed out that its contribution represents 23.33% of the project's $80ml capital

Staff Writer, Mubasher

May 27, 2022

PHOTO

Riyadh - Middle East Healthcare Company (Saudi German Hospital) will pay SAR 70 million to become an investment partner in Sobhi Abdul Jalil Batterjee Medical Hospital in Jeddah.

The Saudi listed firm pointed out that its contribution represents 23.33% of the project's SAR 300 million capital, according to a bourse filing on Thursday.

Moreover, the investment will be paid in 2022 and 2023.

It is worth noting that Saudi German Hospital logged net profits after Zakat and tax worth SAR 20.49 million during the first quarter (Q1) of 2022, an annual leap of 69.33% from SAR 12.10 million.

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