City Lab is now Premium Healthcare Group: Medical diagnostic services provider City Lab announced its intention to rebrand to Premium Healthcare Group after its board approved the move, according to an EGX disclosure (pdf). The move is now awaiting the approval of the general assembly.

It’s already been a busy couple of weeks for the company: Earlier this week the healthcare service provider said it will acquire 50% of five medical companies through a mix of capital increases and a direct share purchase all coming at a combined EGP 233.5 mn. This news came only days after the company okayed a non-binding MoU to acquire a hospital services management company and it finalizing its long-awaited purchase of Cairo Clinical Labs, which saw City Lab acquire its target for EGP 59 mn in cash and promised capital increases.

And there’s more to come: The firm wants to fully acquire four local labs operators — HassabLabs, Town Lab, Ezz Laboratories, and Maadi for Lab Acquisitions in a EGP 991.7 mn acquisition spree, according to another disclosure (pdf). The acquisitions are yet to be finalized, with the company awaiting their fair value studies.

A glance at the company’s portfolio post acquisitions: Once all of the company’s recently announced acquisitions go through, the company will operate seven medical diagnostic services providers in Egypt, three in Saudi Arabia, one in UAE, and one in Jordan.

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