CMCER Chairman: SAR 200M deals reflect transformation success

Khalid Al-Ammar, Chairman of Canadian Medical Center Co. (CMCER)

Khalid Al-Ammar, Chairman of Canadian Medical Center Co. (CMCER), said the company is currently executing contracts worth over SAR 200 million. These contracts are expected to boost revenue and support financial stability in the coming period.

In an interview with Argaam, Al-Ammar explained that diversifying income sources by sector and geography has been a key pillar of the transformation plan launched in early 2024.

CMCER, once reliant solely on oil and gas, now operates across multiple sectors, driving sustainable growth in revenue and profit.

On Q1 performance, Al-Ammar said the results reflect early success from the transformation strategy, which focuses on income diversification, governance enhancement, and long-term growth.

He cited geographic and service expansions, improved operational efficiency, and stronger governance, including the creation of an investment committee, as the main drivers of Q1 performance.

The company also earned a CBAHI accreditation score of nearly 97%, underscoring the quality of its healthcare services.

Al-Ammar said the transformation plan also focuses on the emergency medicine model, serving top oil-sector clients like Johns Hopkins Aramco.

The company expanded this model by opening branches in Riyadh, Tabuk, and Jubail, in addition to existing locations in Dammam, Khobar, and Buqaya.

He added that the company is reviewing expansion opportunities in high-potential cities and sectors across Saudi Arabia. Any updates will be disclosed once finalized.

On investments, he noted the portfolio delivered an 8.36% return, focusing on high-potential opportunities in the local market.

This performance reflects sound investment decisions and the effectiveness of the company’s growth strategy.

Looking ahead, the focus will remain on operational efficiency and measured service and location expansion to support consistent results and sustainable growth—extending the approach taken in Q1 2025.

CMCER posted SAR 7.4 million in Q1 2025 profit, compared to a SAR 221,000 loss in the year-earlier period, according to Argaam’s data.