Specialized Medical Company has officially announced the successful completion of the individual (retail) tranche allocation in its initial public offering (IPO), reflecting strong investor demand and confidence.
According to the company’s statement, a total of 317,820 individual investors participated in the offering, submitting applications worth SAR 542.2 million, representing a coverage ratio of 1.45 times the allocated retail portion. This remarkable response underscores public confidence in the company's performance and its promising outlook within the healthcare sector. It also highlights the increasing interest among retail investors in high-quality IPOs within the Saudi market.
The IPO is a strategic step aimed at strengthening the company’s position and supporting its expansion plans in specialized medical services, aligning with the goals of Saudi Vision 2030.
In a move that highlights continued trust and collaboration between the healthcare and architectural sectors, Specialized Medical Company (SMC Hospitals) has signed a supervision agreement with the Architectural Center to oversee the construction of a new SMC hospital located on Riyadh’s Northern Ring Road.
This agreement marks a continuation of the successful collaboration between the two entities, following the Architectural Center’s prior supervision of the SMC hospital on King Abdullah Road. The renewed partnership reflects the strength of their strategic relationship and commitment to delivering high-quality healthcare infrastructure with top architectural and medical standards.
The signing ceremony was held at SMC Hospital on King Fahad Road, in the presence of Specialized Medical Company CEO Mr. Bassam Shahin and Architectural Center CEO Eng. Abdulmohsen Al-Mudlej, along with several senior leaders from both organizations.
During the event, attendees emphasized the importance of the new hospital project in strengthening Riyadh’s healthcare infrastructure and the value of cross-sector collaboration in advancing the Kingdom’s healthcare ambitions.
In a groundbreaking milestone for Saudi Arabia's healthcare sector, a urological surgery was successfully performed using the advanced robotic system ILY_ROBOT for the very first time in the Kingdom. The procedure was conducted under the supervision of Professor Saeed Bin Hamri at SMC Hospitals – King Abdullah Road branch.
This pioneering method offers a significant advancement in the treatment of urinary tract stones, allowing for exceptional precision, reduced surgical risks, and faster recovery times compared to conventional surgery. The achievement reflects Saudi Arabia’s ongoing efforts to lead in advanced healthcare services, aligning with the strategic goals of Vision 2030, which aims to position the Kingdom as a regional hub for cutting-edge medical innovation.
The medical team at SMC Hospitals expressed pride in this accomplishment and reaffirmed their commitment to adopting the latest technologies to deliver world-class patient care.
SMC Hospitals proudly participated in the 2025 edition of the Healthcare Model Forum, one of the Kingdom’s most prominent national healthcare events. During the forum, SMC was honored with the Innovation in Healthcare Award at the private hospital level in Saudi Arabia.
The award was presented by the Saudi Minister of Health, Mr. Fahad Al-Jalajel, recognizing SMC’s excellence in providing advanced medical services, supported by high-level medical expertise and a patient-centered care experience that enhances health outcomes and quality of life.
This achievement reflects SMC’s commitment to innovation and continuous development, showcasing its ability to adopt cutting-edge global healthcare models in alignment with Saudi Vision 2030. It also reaffirms SMC’s position as a leader in the private healthcare sector in the Kingdom.