Akdital, Morocco’s largest private healthcare operator, reported record-breaking results at the end of the first nine months of 2024, with earnings growing at an annualized rate of 51% to MAD 2 billion (USD 200 million), according to a report from market research firm BMCE Capital Global Research.
The report attributes the rapid surge in revenue to the robust growth from established operations and “strategic” expansions. The earnings represent 71% of the company’s annual forecasts, putting the company on the path to exceeding its projected revenue.
The growth is the result of solid contributions across existing facilities and recent clinic launches in Moroccan cities including Tangier, Agadir, and Safi.
Four new clinics inaugurated in 2024 added to the momentum. Akdital’s aggressive expansion aligns with its mission to meet rising healthcare demands under Morocco’s universal compulsory health insurance program (AMO), the research firm maintains.
The operator plans to open 12 clinics this year, with eight already operational as of September. Bed capacity rose from 2,763 in September to 3,448 currently, with a target of 3,700 by year-end.
The company continued investing heavily, with expenditures climbing 6.8% to MAD 817 million (USD 81.1 million) by September.
The funding bolstered new facilities and upgraded existing ones, positioning Akdital for sustained growth. A recent capital increase will underpin future openings planned for 2025 and 2026.
Akdital also adjusted its portfolio by divesting a 31.85% stake in “Akdital Immo” to “Aradei Capital.” Meanwhile, consolidated net debt climbed 13% to MAD 1.4 billion (USD 140 million), reflecting the ongoing investment in expansion initiatives.
The group currently operates 26 healthcare facilities in 15 cities. In December 2022, Akdital Group became the first healthcare company listed on the Casablanca Stock Exchange.