National Medical Care Co. (Care) reported a 71% year-on-year net profit growth in Q4 2025, excluding a SAR 42 million reversal of non-recurring legal provisions that had inflated profits in the same period the previous year. Revenue rose 8.6% to SAR 404.8 million, driven by a 15% increase in patient visits. The CEO highlighted the acquisition of Al-Salam Medical Hospital in Q4 2024, which now contributes 8% of total revenue, as part of an ongoing expansion strategy through strategic acquisitions. The company’s revenue mix includes 35-40% from the General Organization for Social Insurance (GOSI), 30-35% from the Ministry of Health, and 25% from insurance companies, with a focus on the fast-growing tier-B insured population segment. For markets, Care’s strong operational performance and diversified revenue streams signal resilience in Saudi Arabia’s healthcare sector. The 80% hospital occupancy rate and focus on reducing average length of stay indicate efficient capacity utilization, which could attract investors seeking stable growth in the Gulf. The company’s emphasis on maintaining profit margins while expanding operations aligns with broader trends in MENA healthcare providers targeting both scale and profitability. Looking ahead, Care’s strategic acquisitions and patient visit growth will be critical for sustaining momentum. Investors should monitor its ability to integrate new hospitals like Al-Salam and manage costs amid rising healthcare demand. The company’s net profit reached SAR 318.5 million by year-end 2025, up from SAR 294.7 million in 2024, reinforcing its position as a key player in Saudi healthcare.
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