The IPO, which is expected to be a significant event in the Saudi healthcare sector, will enable Almoosa Health to continue its strategic expansion, with plans to double its bed capacity by 2028. The company, founded by Abdulaziz Almoosa, operates around 730 beds and has been a key player in delivering a wide range of healthcare services in the region. This offering comes as part of a broader plan to increase its hospital capacity to 1,430 beds, through the construction of new facilities in Al Hofuf and Al Khobar. These new hospitals are set to feature advanced medical technologies and a wide range of specialized clinics.
Almoosa Health’s IPO is particularly notable due to its focus on enhancing healthcare delivery through a combination of cutting-edge medical equipment and patient-centric services. The company is known for its advanced use of health IT, having achieved HIMSS Stage 7 Accreditation, the highest level for hospitals using electronic health records. This reflects the company’s commitment to providing efficient and high-quality healthcare services. Almoosa also plans to add five primary care centers across the Eastern Province, further solidifying its presence in the region.
Financially, the company has demonstrated strong growth. Between 2021 and 2023, its revenue grew at a compound annual growth rate (CAGR) of 18.1%, reaching SAR 979 million in 2023. Its EBITDA has grown at an even faster rate, with a CAGR of 37%, largely driven by operational efficiencies and an increase in both inpatient and outpatient volumes. These solid financial metrics suggest that Almoosa Health is well-positioned to deliver on its expansion ambitions.
The company’s leadership team, spearheaded by CEO Malik Almoosa, brings deep industry experience, with a focus on maintaining high standards in patient care and operational performance. The expansion strategy includes the development of two new specialist hospitals and five primary care centers by 2027, with the goal of serving a growing and diverse patient base.