Cleopatra Hospital mulls medical sector investments

Cairo – Mubasher: Cleopatra Hospital on Sunday said it was studying several investment opportunities in the Egyptian market including buying a new hospital.

The company stressed that it had not yet made any acquisitions or that it had received a green light from relevant authorities in this regard, it said in a statement to the Egyptian Exchange (EGX).

Cleopatra Hospital’s announcement came as a response to news circulated in the media that it was planning a new acquisition after it failed to acquire Al Nozha Hospital.

The company further added that among the acquisitions it was considering was El Katib Hospital.

The Financial Supervisory Authority (FSA) said previously that it had denied the mandatory tender offer (MTO) made by Cleopatra Hospital for the full acquisition of Al Nozha.

In the first six months of 2018, Cleopatra Hospital achieved a 153.4% year-on-year surge in consolidated net profits to EGP 133.4 million from EGP 52.6 million.

Moreover, standalone profits had jumped to EGP 86.11 million in H1-18, versus EGP 39.17 million in the prior-year period.

Mubasher Contribution Time: 26-Aug-2018 10:15 (GMT)
Mubasher Last Update Time: 26-Aug-2018 10:15 (GMT)