Al Hammadi Development and Investment Co. (Al Hammadi) will launch commercial operations at Riyadh’s Al Hammadi Hospital Al Suwaidi on August 1 following approval from Saudi Arabia’s ministry of health.
The new facility will expand Al Hammadi’s network of outpatient clinics to 138 from 74 and boost its bed capacity to 728, the company said in a statement to Tadawul.
The financial impact is expected in the third quarter, while total revenue growth is projected at ten percent.
In addition, the company estimated its operating loss to amount to SAR 9 million before eventually breaking even by the third quarter of 2016.
In September 2014, the Saudi firm began trial operations for the project, according to a report published by Argaam.
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