November 22, 2021

CHG to set up 400-bed hospital in East Cairo


ArabFinance: Cleopatra Hospitals Group (CHG) (CLHO) has signed a new deal to set up a 400-bed hospital building, the company’s Managing Director Ahmed Ezz El-Din told Al Borsa Newspaper.

The company is getting ready to obtain the necessary regulatory approvals to conclude a new deal, Ezz El-Din stressed.

This deal marks CHG’s first strategic expansion in East Cairo, he highlighted, adding that it is an opportunity to attract further growth.

The works of the new hospital are expected to commence operation within two years after getting the required approvals, he projected, stressing that the group is capable of maintaining the project as per the targeted schedule.

In another context, the managing director highlighted that the group has boosted the activities of Bedaya Hospital to achieve robust revenue in line with the set targets for the third quarter of 2021.

It is worth noting that CHG recorded a conslidted net profit attributable to the parent of EGP 271.84 million in the first nine months of 2021, up from EGP 179.19 million in the prior-year period.

Consolidated operating revenue amounted to EGP 1.90 billion in the January-September period of 2021, rising from EGP 1.37 billion in the same period of 2020.

Established in 2014, following the acquisition of its East Cairo Hospitals, Cleopatra Hospital, and Cairo Specialized Hospital.

CHG expanded its geographical network in West Cairo to acquire two additional facilities, namely Nile Badrawi Hospital in 2015 and Al Shorouk Hospital in 2016.

arabfinance


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