Middle East Healthcare Company (Saudi German Hospital)

Middle East Healthcare Company (Saudi German Hospital) announces commercial opening  of  Saudi German Hospital in Hail ,  owned  by  National  Hail  Company  for Healthcare. Middle East Healthcare Company (Saudi German Hospital) announces commercial opening of  Saudi  German  Hospital  in  Hail,  owned  by its  subsidiary National  Hail  Company  for Healthcare
as follows:

  1. Saudi German Hospital Hail owned by National Hail Company for Healthcare in which Middle East Healthcare Company owns 32.33% and also having Hospital Management Agreement will be opened on 16/02/2017G corresponding to 19/05/1438H.
  2. The   Hospital   will   start   receiving   patients   from   17/02/2017G   corresponding   to
  3. The  required  medical  equipment installation  and  testing  have  been  successfully completed and the required  medical and administrative staff have been appointed and are in place.
  4. The management expects to have financial effect on the company during the year 2017G to be as follows:
    a. Increase in number of outpatient clinics from 314 to 344 clinics.
    b. Increase in bed capacity from 837 to 987 beds.
    c. Financial effect shall start in Q1 2017.
    d. Growth in total revenue for 2017 is expected to be 2.50%.
    e. The share of Middle East Healthcare Company’s operating loss is expected to be SR7.5 million for the year 2017.

Further developments on the company’s financial results will be disclosed through the
quarterly announcements