Riyadh – Mubasher: Saudi Arabia-based Mouwasat Medical Services has received on Sunday the Ministry of Health’s approval to start operating its hospital in Khobar in mid-September.

The financial impact of operating the new hospital is forecast to boost the firm’s performance by 25%, according to a statement to the Saudi Stock Exchange (Tadawul).

Mouwasat Medical also expected that it will generate positive results in the coming 18 months, giving no further details on the total cost of its fresh hospital.  

The Saudi medical-services provider last reported a 15.2% profit growth, logging SAR 87.9 million during the second quarter of 2018, compared to SAR 76.3 million in Q2-17.

The stock inched up 0.83% to close Sunday’s trading session at SAR 85.50.