Middle East Healthcare Company (MEAHCO) has completed construction work of its branch in Dammam.
According to MEAHCO’s statement to the Saudi Stock Exchange on Monday, construction work includes the installation of medical and other equipment.
The company noted that it will announce the date of the actual operation of the new entity later. Besides, it will uncover the financial impact on the company after getting the final approval from the Saudi health ministry.
Saudi German Hospital is located on King Fahad Road. The new facility will have a capacity of 150 beds and 100 outpatiet clinics. The hospital consists of inpatient and outpatient facilities critical care units operating rooms and laboratories in addition to other support functions.
In addition, construction of the project began in December 2016, after MEAHCO awarded the $90m contract to International Hospital Construction Co. The project is being partially funded through an Islamic financing package ($80.1m), with the remainder being provided by MEAHCO directly.