Logo of Twareat Medical Co.
Twareat Medical Center (TMC Health) said it generated a total revenue of SAR 191.81 million in 2024 from medical services, products and leasing.
In its investor presentation for 2024, Twareat said that revenue from medical services grew by 19% year-on-year (YoY) to SAR 167.21 million.
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Product and leasing revenues reached SAR 17.11 million and SAR 7.50 million, respectively.
Twareat Revenue by Source for 2024 (SAR mln) | |||
Source | 2023 | 2024 | Change |
Medical Services | 140.62 | 167.21 | +19% |
Products | 10.56 | 17.11 | +62% |
Leasing | 3.54 | 7.50 | +112% |
Total | 154.72 | 191.81 | +24% |
Revenue from medical services and products made up 87% and 9%, respectively, of the company’s total topline in 2024.
Twareat Revenue by Source for 2024 | |
Source | Percentage of Total |
Medical Services | 87% |
Products | 9% |
Leasing | 4% |
The company generated SAR 126.47 million in revenue from remote areas, SAR 45.42 million from medical support services and SAR 19.93 million from the medical operation segment.
Twareat Revenue by Segment in 2024 (SAR mln) | |||
Source | 2023 | 2024 | Change |
Remote Areas | 97.01 | 126.47 | +30% |
Medical Support Services | 39.95 | 45.42 | +14% |
Medical Operation | 17.77 | 19.93 | +12% |
Total | 154.72 | 191.81 | +24% |
The revenue from the remote areas accounted for 66% of the total topline in 2024, compared to 24% for medical support services.
Revenue Percentage from Key Segments in 2024 | |
Source | Percentage |
Remote Areas | 66% |
Medical Support Services | 24% |
Medical Operation | 10% |
Twareat’s 2024 net earnings soared 66% to SAR 23.5 million from SAR 14.2 million in 2023. The second-half bottom line stood at SAR 7.4 million, according to data available with Argaam.
Christeen Grisby
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