Middle East Healthcare Company (Saudi German Health) Announces the Signing of a Contract with Al-Sobh New Medical Company for the Sobhi Abdul Jalil Batterjee Hospital "Related Party” Located in the City of Jeddah

6 March 2025

Introduction	Introduction Middle East Healthcare Company (Saudi German Health) announces the signing of a contract for the management and operation of Sobhi Abdul Jalil Batterjee Hospital "Related Party” owned by (Al-Sobh New Medical Company), located in the city of Jeddah, Al-Rehab District.
Date of Announcement of the Award	2024-12-10 Corresponding to 1446-06-09
Contract Subject Matter	Contract for the management and operation of Sobhi Abdul Jalil Batterjee Hospital "Related Party” owned by (Al-Sobh New Medical Company), located in the city of Jeddah, Al-Rehab District.
The Entity with Which the Contract was Signed	Al-Sobh New Medical Company
Date of Signing the Contract	2025-03-06 Corresponding to 1446-09-06
Contract Value	Middle East Healthcare Company will receive 3% of Sobhi Abdul Jalil Batterjee Hospital's net revenue after deducting rejections.
Contract Details	Contract for the management and operation of Sobhi Abdul Jalil Batterjee Hospital "Related Party” owned by (Al-Sobh New Medical Company), located in the city of Jeddah, Al-Rehab District.
Contract Duration	(5) years, starting from the date of 06/04/2025AD and ending on the date of 05/04/2030AD
Financial Impact and the Relevant Period	This contract will have a positive impact on the company, as it entails receiving 3% of the hospital's net revenue after deducting rejections, which will improve cash flow and increase financial stability and profitability over five years
Related Parties	Eng. Sobhi Abdul Jalil Batterjee (Chairman of the Board) Dr. Makarem Sobhi Abdul Jalil Batterjee (Vice Chairman of the Board) Dr. Khaled Abdul Jalil Batterjee (Member of the Board) Mr. Sultan Sobhi Abdul Jalil Batterjee (Member of the Board)
Additional Information	The hospital’s building will consist of 70 outpatient clinics covering all medical specialties, in addition to a patient admission department, radiology, laboratories, and all other supporting departments. According to the initial license from the Ministry of Health, the hospital's bed capacity is 200 beds.