Ministry of Health signs community partnership agreement with Nahdi

Minister of Health Dr. Tawfiq bin Fawzan Al-Rabiah and Yasser Joharji, chief executive officer of Nahdi Medical Company.
Updated 19 March 2018
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Ministry of Health signs community partnership agreement with Nahdi

Minister of Health Dr. Tawfiq bin Fawzan Al-Rabiah has signed a community partnership agreement between the ministry and Nahdi Medical Company, represented during the signing by its chief executive officer, Yasser Joharji. The agreement was signed on Thursday at the Crowne Plaza Hotel in Riyadh Digital City.
The community partnership agreement aims to build community sustainability. The Ministry of Health aspires to promote the private sector’s contribution to health development and enable it to carry out business with healthy returns that meet the actual needs of the community, while Nahdi Medical Company aims to serve its community and the nation through sustainable and charitable health projects.
Through this agreement, the Ministry of Health will facilitate Nahdi’s work and oversee all partnership projects between the two parties, whereas Nahdi Medical Company will offer health services inside 50 educational clinics in its pharmacies for 100,000 patients, including medical, diabetes and vaccination education, in addition to a weight management program targeting 100,000 patients.
Joharji said: “We signed this agreement with the Ministry of Health in the framework of Nahdi’s strategy within the Kingdom’s Vision 2030 in order to expand the company’s community health services. We aspire to become a central community pharmacy providing medication alongside our role as provider of knowledge, awareness and services.”
Joharji explained that the Nahdi Medical Company will offer diabetes and medication education services to patients through 50 pharmacies across the Kingdom, with the goal to complete 300,000 diabetes education sessions by 2020. Furthermore, an electronic application for educating diabetes patients will be designed and built with the objective to target 100,000 patients by 2020.
In addition, Nahdi will prepare two mobile health convoys to serve pilgrims and visitors, both of which will offer diabetes, blood pressure measurement and medication education to 30,000 pilgrims by 2020. Non-prescription medication such as fever reducers and cold medicine will also be provided to all pilgrims benefiting from the service.
The agreement includes awareness campaigns for obesity, walking and weight management (Wazen Program), which include the launch and implementation of a weight loss competition across the Kingdom through the “10 Billion Steps Campaign,” encouraging 200,000 people to adopt the habit of walking 10,000 steps a day.


Mobily quarterly loss down by 49%

Updated 50 min 41 sec ago
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Mobily quarterly loss down by 49%

Saudi telecom provider Mobily decreased its quarterly losses in Q1 2018 by 49 percent to SR93 million ($24.84 million) compared with SR182 million in Q4 2017. This was mainly due to a growth of revenues driven by a better mix of products mainly from data, the increase of efficiency in managing operational expenses, the impact of implementing IFRS 9 and 15, and the reversal of certain provisions that are no longer required, according to the company.

Revenues improved for the second consecutive quarter reaching SR2,833 million in Q1 2018 compared with SR2,827 million in Q4 2017, a slight increase of 0.2 percent, despite the following:

l The impact on sales at the beginning of the year due to the implementation of the value-added tax (VAT). 

l The reduction in interconnection rates by 45 percent.

l The seasonality of handset sales, and its increase in Q4 2017.

l The seasonal decrease related to the number of days in Q1. 

Without the decrease of the interconnection rates, revenues would have grown by 2 percent.

Mobily’s gross profit increased in Q1 2018 by 6.6 percent to SR1,663 million compared with SR1,560 million in Q4 2017. This increase is mainly due to the reduction in interconnection rates during Q1 2018 compared with those of Q4 2017 and the reduction in equipment costs in Q1 2018 compared with Q4 2017.

Mobily managed to grow its revenues for the second consecutive quarter. Q1 2018 revenues slightly decreased by one percent (SR33 million) to SR2,833 million compared with SR2,865 million in Q1 2017. Mobily achieved a stable level in revenues despite the general economic and regulatory changes, including the impact on sales in the beginning of the year due to the implementation of VAT, and the reduction in interconnection rates by 45 percent.

Without the decrease of the interconnection rates, the revenues would have grown by one percent year over year.

The gross profit stabilized at SR1,663 million in Q1 2018 compared to SR1,665 million in Q1 2017 with a slight decrease by 0.12 percent, despite the slight decrease in revenues.