Research reports- Healthcare
Fakeeh Care
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Fakeeh Care, a Saudi healthcare conglomerate, aims to become the largest privatehealthcare provider in the Western Region (eg Jeddah) by 2030
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Higher occupancy rates and better revenue per patient delivered 24% yoy revenue growth inH1 24 but margins remain below peers
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The group trades at a 30%+ premium to Saudi healthcare peers, suggesting investors arepricing in an improvement in margins
This report does not constitute investment advice. Please read the Important Information atthe end of this document.
Fakeeh Care (Dr Soliman Fakeeh Hospital or DSFHco), founded in 1978, is a Saudi Arabianintegrated healthcare conglomerate. The company operates 4 hospitals with 835 beds, located inJeddah, Riyadh, NEOM, and Madinah, along with 5 ambulatory care centres and 374 outpatientclinics. It offers a comprehensive range of services, including primary, secondary, tertiary, home,and virtual healthcare, as well as managing laboratories, radiology centres and pharmacies, plusmedical education and training facilities.In this report, we investigate the main top-down macro and industry growth drivers for the businessand size up its growth potential. We also examine Fakeeh Care’s competitive position and assessits valuation