National Medical Care Co. (Care) will expand and renovate a building in its Riyadh-based National Care Hospital for SAR 100 million, the company said in a statement on Tuesday.
The healthcare services provider has signed on Monday a SAR 68.4 million contract with Construction & Planning Co. Ltd to implement the expansion, which comes as part of Care’s expansion projects this year.
The remaining SAR 31.6 million will go towards the estimated costs of medical appliances and new staff.
The 360-day project will be carried out in two phases, starting from November 2.
Care expects the project first and second phases to come on stream in Q2-2016 and Q1-2017, respectively.
The expansion, which will be funded through a local debt, is projected to reflect positively on Q2-2017 financial results, the company added.
Following the planned expansion, National Care Hospital will eventually have 450 beds and 62 clinics.
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