Mouwasat Medical Services Company was founded in 1975 by Mohammad Sultan Alsubaie as a private dispensary in Dammam. The Mouwasat Hospital in Dammam was its first owned comprehensive medical facility, which commenced operations in 1988. It has grown to operate seven existing hospitals and 10 specialized medical centers across Saudi Arabia as of 2025. The company closed H1 2026 with $1.8 billion in total assets and $456 million in revenues. Alsubaie holds 19.24% of the company’s shares as of August 2026.