Saudi Arabia's Magrabi Opens Hospital For Ophthalmology, Dentistry In Dammam

Saudi Arabia's eyecare group Magrabi Hospitals and Centers has opened an ophthalmology and dentistry hospital in Dammam as part of its expansion strategy within the country.

New hospital

The healthcare provider said the new Magrabi Opthalmology and Dentistry Hospital in Dammam was initiated to meet the local community's "growing health needs," adding that it would provide specialized and sub-specialized healthcare services.

"Magrabi Hospital Dammam provides specialized services in ophthalmology, ENT, and dentistry for the residents of Al-Shaala and nearby areas, signifying a key milestone in our expansion plans and making our services more accessible to patients throughout the kingdom," said CEO Mutasim Ali Reda.

"This addition follows the increased demand for our services and the rising patient numbers, necessitating an expansion of our capacity to meet these needs," said Deputy CEO and COO Abdulrahman Barzanji.

The new hospital has over 12,000 square meters of space and provides outpatient care in a range of medical specialties, including ophthalmology, dentistry, ENT, and more.

Founded in 1955, Magrabi provides healthcare services in the Middle East and North Africa (MENA) region, and has grown to include 32 branches across Saudi Arabia, the UAE, Qatar, and Egypt.

IPO plans

In 2022, Magrabi sought proposals from investment banks to potentially manage an initial public offering (IPO) on the Saudi stock exchange Tadawul. Last year, however, it paused the IPO plans to allow the company more time for growth before becoming publicly traded, according to Bloomberg.

According to the EY MENA IPO Eye Q4 2023 report, there were 48 IPOs in the MENA region throughout the year, raising $10.7 billion. Notably, 14 of the 19 IPOs in the last quarter were from Saudi Arabia.

Big numbers

Magrabi's outpatient clinics see over a million patients and perform more than 12,000 surgeries annually.