Saudi German Health achieves remarkable increase in Q1 2023 profit and emphasizes transformation program's success
May, 2023 - Saudi German Health (SGH), one of the largest healthcare groups in the MENA region, kicked off the year with outstanding performance, achieving a net profit of SAR 50 million in the first quarter, representing a remarkable 145% growth compared to Q1 2022. The impressive results, surpassing peers ‘performance, showcase the extensive work made by the team over the past 12 to 18 months to enhance and improve the group's operations while expanding the network's capacity to capitalize on the pent-up demand in the Kingdom.
SGH generated total revenues of SAR 628 million in Q1 2023, the highest the group has ever achieved in a single quarter. The solid performance was driven by notable improvements across SGH's entire network of medical facilities on increased census and optimized case mix. On a group level, the group served a total of 21,000 inpatients and 495,000 outpatients in Q1 2023.
Additionally, the group significantly expanded its footprint, solidifying its market positioning as the kingdom's most geographically diversified healthcare player. Over the past 12 months, SGH added four new medical facilities to its network, including a clinic complex in Abha, a specialized hospital in Hai Al Jamea in Jeddah, a 300-bed tertiary hospital in Makkah, and a new medical tower in Riyadh.
Makarem Sobhi Batterjee, President and Vice Chairman of Saudi German Health, stated: “I am very confident in stating that the recent investments the management has made to expand and enhance the quality of our facilities and medical services have had a highly positive impact on our brand in the market. This is evident from the increased census numbers and the positive feedback we receive from patient satisfaction surveys.”
"I am proud of the exceptional work the group has done through the transformation initiatives that have helped us achieve excellent results in Q1 2023. I believe there is still much more we can offer to the market. I have confidence that we are on the right track, and I am positive that we will continue to build upon the solid results achieved in this quarter throughout 2023", Mr. Batterjee added.
Saudi German Health continues to prioritise offering its patients best medical services and care, even as it expands its presence across multiple locations. Through its commitment to providing exceptional healthcare services, the group aims to maintain its track record of achieving excellent financial outcomes in the future.