One of Saudi German Health’s hospitals
Middle East Healthcare Co.’s (Saudi German Health) board of directors approved signing a contract for the use of the name and trademark (Saudi German Hospital) with Sobhi Abdul Jalil Batterjee Medical Hospital in Jeddah, a related party owned by Al-Sobh New Medical Co. 
In a statement to Tadawul, the company said that the duration of this contract will be 10 years, starting from the date of signing during which Saudi German Health will receive 10% of the monthly net profit, considering that there are no risks to the company’s profits and assets.
The board also ratified signing a contract for the supervision of the preparation and qualification for the pre-opening phase of Sobhi Batterjee Hospital. The duration of this contract will be six months, starting from the date of signing, with a total value of SAR 3.14 million for the entire contract period.
Meanwhile, they approved the management and operation contract for Sobhi Batterjee Hospital, which has a term of five years from the actual handover date of the hospital as per the official minutes, whereby Saudi German Health will receive 3% of the hospital’s net revenue after deducting rejections.
The statement added that Saudi German Health has contributed an amount of SAR 70 million, representing 23.33% of the project’s total capital of SAR 300 million, following approval of the Ordinary General Assembly meeting (OGM) held on July 16, 2022.
This initiative aims to achieve the company’s strategy regarding expansion plans and to enhance its market position in providing healthcare services, thereby supporting the company’s revenues and positively reflecting on its financial statements in the coming years, the Saudi-listed firm further indicated.
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.
Saudi German Health will announce any developments regarding the project and the positive financial impact of these agreements in a timely manner, the company noted.
One of Saudi German Health’s hospitals
Middle East Healthcare Co.’s (Saudi German Health) board of directors approved signing a contract for the use of the name and trademark (Saudi German Hospital) with Sobhi Abdul Jalil Batterjee Medical Hospital in Jeddah, a related party owned by Al-Sobh New Medical Co.
In a statement to Tadawul, the company said that the duration of this contract will be 10 years, starting from the date of signing during which Saudi German Health will receive 10% of the monthly net profit, considering that there are no risks to the company’s profits and assets.
The board also ratified signing a contract for the supervision of the preparation and qualification for the pre-opening phase of Sobhi Batterjee Hospital. The duration of this contract will be six months, starting from the date of signing, with a total value of SAR 3.14 million for the entire contract period.
Meanwhile, they approved the management and operation contract for Sobhi Batterjee Hospital, which has a term of five years from the actual handover date of the hospital as per the official minutes, whereby Saudi German Health will receive 3% of the hospital’s net revenue after deducting rejections.
The statement added that Saudi German Health has contributed an amount of SAR 70 million, representing 23.33% of the project’s total capital of SAR 300 million, following approval of the Ordinary General Assembly meeting (OGM) held on July 16, 2022.
This initiative aims to achieve the company’s strategy regarding expansion plans and to enhance its market position in providing healthcare services, thereby supporting the company’s revenues and positively reflecting on its financial statements in the coming years, the Saudi-listed firm further indicated.
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.
Saudi German Health will announce any developments regarding the project and the positive financial impact of these agreements in a timely manner, the company noted.
