A look at Mouwasat’s latest project developments

Mouwasat Medical Services Co. will continue to boost the operating capacity of its outpatient clinics in all branches, through adding new specialized departments and expanding the number of outpatient clinics, the company’s annual board report showed.

On the other hand, the medical services provider will continue construction works at Dammam and Madinah branches.

Mouwasat Hospital Khobar saw higher operating rates in 2019, the company said, expecting the project to reflect positively on its 2020 results.

On the other hand, the new hospital in Khobar contributed negative SAR 48 million in 2019. The result came in line with the prepared operational plan, which was previously approved for the new facility, the report added.

On segment level, the admission and outpatient clinics reported an over sevenfold rise in revenue, when compared to 2005. The admission and outpatient clinics segments reported revenue of SAR 824 million and SAR 773 million in 2019, respectively.

Revenue from the pharmaceutical products business increased by more than five times to SAR 260 million in 2019.

The Eastern Region contributed the largest share to total revenue, as the company operates 4 branches in Dammam, Jubail, Qatif and Khobar each. Meanwhile, Mouwasat operates one branch in Riyadh and Madinah each.

The following table illustrates changes in the board of directors’ ownership:

*Membership ended on Jan. 3, 2020. The shares of 2018 and 2019 included 154,150 shares and 171,860 shares, respectively held by his relatives.