Latest news with #CMCER
Argaam
16-06-2025
- Business
- Argaam
CMCER OKs 500,000 share buyback, employee share scheme
Canadian Medical Center Co.'s (CMCER) shareholders approved the employee share scheme, while authorizing the board to determine the relevant current and future terms, including the allocation price for each share. The approval came during the extraordinary general meeting (EGM) held on June 15. Shareholders also approved the company's repurchase of a maximum of 500,000 shares, to be allocated within the employee share scheme, CMCER said in a statement to Tadawul. The share buyback will be financed from the company's own resources, and the board will be authorized to complete the repurchase within a maximum period of 18 months from the date of the general meeting. The company will retain the repurchased shares for a period not exceeding 10 years from the date of shareholders' approval. Upon the expiry of this period, the company shall follow the procedures and regulations stipulated in the relevant laws and regulations. Shareholders also authorized the board to distribute interim dividends on a semi-annual or quarterly basis for 2025.
Argaam
12-05-2025
- Business
- Argaam
CMCER Chairman: SAR 200M deals reflect transformation success
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.
Argaam
24-03-2025
- Business
- Argaam
CMCER publishes 2024 board report for transition to TASI
Canadian Medical Center Co. (CMCER) released its 2024 board of directors' report, covering key disclosures in accordance with regulatory requirements. The report aligns with corporate governance rules as part of the company's move to the Main Market (TASI). CMCER board approved the transition from Nomu-Parallel Market to TASI in July 2023, according to Argaam 's data. Listed on Nomu on Aug. 2, 2021, the company has a capital of SAR 77 million, split into 77 million shares.
Argaam
10-03-2025
- Health
- Argaam
CMCER signs SAR 22.8M contract with Ministry of National Guard
Canadian Medical Center Co. (CMCER) received on March 9 a contract with the Ministry of National Guard Health Affairs, valued at SAR 22.82 million (VAT inclusive). In a statement to Tadawul, the company pointed out that the one-year agreement aims to supply medical personnel for the operation of King Abdullah Specialized Children Hospital in Al-Qassim and King Salman Specialized Hospital in Taif. It expects this contract to have a positive impact on the financial results starting from Q3 2025, noting that there are no related parties to the deal. In Oct., CMCER was awarded a contract for the recruitment of medical staff in collaboration with the Ministry of National Guard Health Affairs, valued at SAR 22.82 million (VAT inclusive), Argaam data showed.
Argaam
30-01-2025
- Business
- Argaam
CMCER Chairman says clinic contracts exceed SAR 50M
Khalid Al-Ammar, Chairman of Canadian Medical Center (CMCER), said that the size of clinic projects ranged nearly between SAR 50 million and SAR 54 million in the first half of 2024. In an interview with Argaam on the sidelines of the Argaam Connect event, Al-Ammar explained that the healthcare sector is witnessing significant development, driven by the reforms and enhanced regulations implemented by the Ministry of Health. The ministry is providing numerous opportunities, modernizing outdated systems, and giving more room to the private sector. For instance, home healthcare has become one of the promising ideas and services that the market is keenly anticipating. He noted that sectors such as telemedicine, healthcare, physiotherapy, and occupational therapy are expected to hold a significant market share in the coming period. On the impact of transformation at CMCER, Al-Ammar said the main goal is to shift from reliance on a single sector—oil and gas—to new sectors. He noted that the company has experienced wide acceptance for this transformation, particularly after winning some major projects. CMCER also ventured into the petrochemical sector, for which it was well-positioned. Currently, several projects are under study. Al-Ammar explained that these transformations align with the company's strategy to diversify income sources and enhance its growth trajectory.
