Riyadh is rapidly expanding northward, driven by large-scale urban development and mega projects – and SMC is moving with it. While the capital already accounts for nearly 20% of the Kingdom’s population, that number is expected to grow from 7.3 million in 2023 to 9.4 million by 2035, fueling strong and sustained demand for healthcare services. To meet this demand, SMC is strategically expanding its footprint in Northern Riyadh – an underpenetrated region with a growing population and limited existing healthcare infrastructure. With three new hospitals under development, SMC will more than double its current bed capacity to approximately 1,275 by 2029. Once operational, SMC will be the leading private healthcare provider in Northern Riyadh, holding the largest share of hospital capacity in this high-growth corridor.

A full-service healthcare provider, SMC offers a comprehensive range of specialized medical services covering the entire healthcare value chain. The Company’s expertise spans multiple disciplines, including general medicine, surgery, OB-GYN, pediatrics, critical care, and advanced treatments in gastroenterology, endocrinology, neurology, urology, ophthalmology, and orthopedic surgery. Recognized as a leader in high-complexity procedures, SMC operates the first licensed corneal transplant center in the Saudi private sector and has pioneered organ transplant initiatives, particularly in kidney transplants, with plans to expand into liver transplants.

Three hospitals under development, with debt already secured to meet the soaring demand

Bed capacity set to more than double by 2029

Pioneering Saudi Arabia’s first mental health PPP with SABIC

SMC has established a long-term growth strategy centered on a clearly defined and actionable expansion plan designed to strengthen its market leadership and meet the rising demand for healthcare services in Riyadh. The roadmap includes the continued organic growth of SMC1 and SMC2 and the opening of three new hospitals between 2027 and 2029. SMC 3, SMC 4, and SMC 5, for which financing is already secured, will add nearly 698 inpatient beds and 448 outpatient clinics in key strategic areas of the city. This expansion is supported by a prudent financial strategy that leverages a blend of debt and internally generated cash flows, ensuring SMC retains substantial financial flexibility for future growth. Additionally, projects like the Wadi Fund, a five-star hotel adjacent to SMC 3, will enhance the overall patient and visitor experience, positioning SMC as the leading private healthcare provider in Riyadh and fostering sustainable long-term value creation for stakeholders and investors.

SMC has consistently demonstrated strong financial performance, achieving a revenue growth rate of 14% CAGR from 2021 to 2023. This momentum continued into 9M 2024, with revenues increasing by 11.9% year-over-year to SAR 1.1 billion. Net profit has seen impressive growth, soaring at a CAGR of 73.6% from 2021 to 2023, rising to SAR 168.7 million, with margins increasing from 5.3% in 2021 to 12.3% in 2023 and 14.3% in 9M 2024, reflecting disciplined cost management through innovation and digitalization and a focus on high-value segments. SMC has demonstrated strong cash flow generation, underpinned by steady EBITDA growth and margin expansion, with EBITDA surging at a 31% CAGR, with margins improving from 17.2% in 2021 to 22.7% in 2023 and 24.2% in 9M 2024.

SMC’s 494 doctors, 960 nurses, and 443 medical ancillary staff form the backbone of its high-quality care. This is reflected in outstanding outcomes, including a 0.08% surgical site infection rate and a 99.6% cardiac catheterization success rate—well above industry benchmarks. SMC also stands out for its in-house developed technology and early adoption of AI across diagnostics and lab services. Its proprietary mobile app streamlines the full patient journey and has seen rapid adoption: 62% of appointments are now booked via the app (up from 31% in 2020), with 141,000 online check-ins and 57,000 digital payment transactions in 9M 2024. These innovations have driven efficiency, improved access, and reinforced SMC’s position as a healthcare technology leader in the Kingdom.

SMC is led by a highly experienced management team with deep expertise in operating and scaling healthcare facilities, ensuring the effective execution of the company's strategic vision. The Company’s management team boasts over 50 years of cumulative healthcare experience, led by seasoned executives including the CEO with 30 years in the healthcare sector and the CFO, who has 20 years of financial expertise. Additionally, a distinguished board of directors, comprising both shareholders and independent members, establishes a governance structure aligned with best practices and focused on shareholder value creation.