Middle East Healthcare Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

26 February 2023
Introduction
The reason of the increase (decrease) in the net profit during the current year compared to the last year is

Increase in net profit for the current year compared to the last year is due to:

1- Increase in number of patients both in outpatient and inpatient.

2- Increase in revenue due to the revised prices with key customer, accreditation and case mix

3- Increase in efficiency due to ramping up of new facilities
Statement of the type of external auditor's report

Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion

N/A
Reclassification of Comparison Items

N/A
Additional Information

During the year 2022 we opened three new healthcare facilities in Jeddah, Abha and Makkah, growing the group’s network to 8 hospitals and 2 polyclinics spread across 7 cities in the Kingdom of Saudi Arabia.

Noting that the three new facilities contributed with SR 54 million negative results during the period.