MEAHCO News

With the participation of a group of international and Yemeni doctors, the Scientific Conference of Ophthalmology and Endocrinology at the Saudi German Hospital - Sana'a

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The general assembly of Middle East Healthcare Co. (MEAHCO), which owns and operates Saudi German Hospitals, has approved a 20 percent cash dividend for the fiscal year 2017, at SAR 2 per share, amounting to SAR 184.08 million.

 

Dividend Details (FY 2017)

Current Capital

SAR 920.40 mln

Number of shares

92.04 mln

Dividend

SAR 184.08 mln

Percentage of capital

20% (SAR 2 per share)

Record date

June 24, 2018

Payment date

July 12, 2018

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Middle East Healthcare Co. (MEAHCO), the owner and operator of the Saudi German Hospital (SGH), has opened the Saudi German Hospital at Sharjah, the company said in a bourse statement on Tuesday.The new facility, which includes 50 inpatient beds and 25 outpatient clinics, is owned by Tatweer Healthcare Co. LLC, in which Bait Al Batterjee Medical Company (BAB) holds a majority stake. Tatweer is a related party that has a management supervision agreement with MEAHCO.

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http://www.sghgroup.com.sa/images/Jeddah/jed-materials/makarem_honered.jpeg


In continuation to the success of Saudi German Hospitals, the group was able to receive the award of the 100 most popular brands in the Saudi market, according to a study carried out by one of the world's leading companies, as the hospitals are the largest group in the Kingdom and very popular, there is a great satisfaction of the reviewers where the percentage of the referendum was 80% of Saudis and 20% of foreigners. The award was received by the Vice Chairman of the Group, Dr Makarem Batterjee on behalf of Eng. Sobhi Batterjee during the ceremony sponsored by the Advisor to the King and Prince of Makkah Region, Khalid Al Faisal. As the largest health group in the Middle East and the most famous, it is found throughout the Kingdom and in all major regions, the last branch was opened in Hail and a new branch will soon be opened in the Eastern Region. Dr. Makarem Batterjee expressed his great happiness in this success, which comes from the generous and unlimited support of our wise government, the Government of King Salman bin Abdulaziz and the Crown Prince His Royal Highness Prince Mohammed bin Salman, and because of the medical progress in the Kingdom and what the Kingdom is now witnessing in the private sector. SGH are the only hospitals in the private sector that perform organ transplants such as (liver and kidney) with great success. Dr. Makarem thanked all the employees of the group for their excellence in serving patients in all medical fields.

 

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Sobhi Batterjee: Stability in the quicksand
Sobhi Batterjee, Chairman of Saudi German Hospitals, does not hide the truth of what he feels. In an interview with Arabian Business, he discussed the most important challenges facing the health sector and described the health sector as quicksand. Batterjee has 30 years of experience in this sector, so what does he mean by quicksand?
Sobhi Batterjee, Chairman of Saudi German Hospitals
The Chairman of SGH believes that the healthcare sector needs substantial investments and patience for its numerous contacts with the concerned parties in its various activities.He said “health is an important thing in society, so everyone today wants to enter and invest in this sector. Government dependence on the private sector today opens the way to attract capital in this vital sector. The problem of going into this field is that it is difficult, technical and complex and it needs a huge capital, so there are a few stakeholders who are already investing in the health sector. Those who do not have enough experience in this sector will not succeed and will be exhausted in their attempt to continue. Health sector is like quicksand, if the business size is larger, drowning will be faster for non-professionals. The challenges will also arise with the increase of legislation regulating this sector because of its association with human health and safety. It will be linked with some authorities such as the Ministry of Health, Ministry of Commerce, Civil Defense, CCHI and Saudi Commission for Health Specialties”.
Regarding the inquiries about the implications of the entry of insurance companies into this sector, Batterjee said “insurance companies have become a major player in healthcare and their practices sometimes depend on the success of hospitals or their exit from the market”.
He also said “insurance has raised demand in this sector because it has given opportunities to those who can’t afford the treatment to receive it, but at the same time it gave the insurance companies great influence to control the work of hospitals. Insurance companies are now able to impose price, cost and expense levels and thus sometimes cause bankruptcy of hospitals and dispensaries. They can control the prices because of purchasing power, so we are now seeing small investors in the health sector.

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