Mouwasat overview
Mouwasat expanded from a private dispensary in Dammam to provide a variety of medical services and medications. Their business includes managing, operating, and maintaining hospitals, medical facilities, and pharmacies, and wholesale medical equipment and medications. Mouwasat’s revenue in 2022 exceeded two billion Saudi riyals, with the majority of its revenue generated from the medical services segment. Mouwasat maintains six hospitals throughout Saudi Arabia, as well as specialist facilities such as long-term care, rehabilitation, cardiology, and fertility centers. Eastern Medical Services Company Limited and Jeddah Doctors Company are two of the company's subsidiaries. In 2009, the firm began trading on the Saudi Stock Exchange Tadawul.Saudi Arabia’s healthcare industry
The revenue of the hospital market in Saudi Arabia is expected to continually increase after exceeding an estimated 21 billion U.S. dollars in 2023. Topping the list of healthcare companies with the highest market capitalization in Saudi Arabia are Dr. Sulaiman Al Habib Medical Services Group and Mouwasat Medical Services, respectively. The revenue of Al Habib’s group exceeded eight billion Saudi riyals in 2022.Saudi Arabia accounts for about 60 percent of the Gulf Cooperation Council’s healthcare expenditure. With the increase in healthcare demand, the Saudi government is delegating larger budgets to the healthcare sector and encouraging related investments as a part of the Vision 2030 healthcare reform. Saudi Arabia is also developing its digital healthcare industry. By establishing Seha Virtual Hospital, the first virtual hospital in the Middle East and North Africa (MENA), Saudi Arabia is leading the region’s healthcare digitalization wave.
