The flagship quaternary care facility, Burjeel Medical City (BMC), accounted for 21.8% of the group’s growth, or Dh283 million, and was the primary driver of its performance, accounting for 90% of total revenue generated by the hospitals in the group.
Aside from opening the first-ever OncoHelix-CoLab in the UAE and a thyroid parathyroid center, BMC’s increased foot traffic and expansion of super-specialty services contributed 26% of the hospitals’ overall revenue. These initiatives were joint ventures.
John Sunil, CEO of Burjeel Holdings, expressed optimism about the Q1 results and reaffirmed the company’s 2024 targets of increasing EBITDA margins and delivering mid-teen revenue growth.The recent openings bring the total number of PhysioTherabia facilities to 17, staying on track to hit the 60-mark in Saudi Arabia by the end of next year. It also expanded insurance partnerships with leading providers like Tawuniya and Al Arabia Takaful.
As a result of continuous investments in complex care to attract more higher-yield inpatient foot traffic, first-quarter adjusted EBITDA increased by 7.7% to Dh260 million. Due to strong revenue growth, improved operational efficiency, and decreased financing costs, adjusted net profit increased by 16.3%.
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