JEDDAH: Dr. Sulaiman Habib Medical Services Group (HMG), Saudi Arabia’s largest private medical services provider, has reported a 21.3 percent rise in net income for the last year, as 2020 saw the Kingdom’s healthcare sector grapple with the impact of the coronavirus disease (COVID-19) pandemic.
The medical group’s annual revenue increased 16.85 percent year-on-year to SR5.862 billion ($1.56 billion), while its gross profit grew 22.37 percent to SR1.864 billion.
The group witnessed revenue growth on all levels, including hospitals, pharmacy and solutions, due to the rise of in-patient occupancy during the pandemic, with patient numbers rising to 3.2 million.
“Our healthcare excellence technology solutions played a vital role in our business continuity and response to the COVID-19 pandemic and are a key differentiator for HMG,” Dr. Sulaiman Al-Habibi, HMG’s chairman of the board of directors, was quoted as saying in a press statement.
HMG’s solutions segment introduced “new technology solutions” such as Habib Live-Care, a consultation platform providing patients with access to a live-response team during emergencies, greatly helped governmental entities tackle the pandemic response to patients.
HMG is a private healthcare service provider that has been operational in the Kingdom and other Gulf Cooperation Council countries for 25 years.