{"id":546652,"date":"2022-05-24T03:54:45","date_gmt":"2022-05-24T03:54:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/saudi-healthcare-group-looks-to-enter-egypt-by-acquiring-new-cairo-hospital\/"},"modified":"2022-05-24T03:54:45","modified_gmt":"2022-05-24T03:54:45","slug":"saudi-healthcare-group-looks-to-enter-egypt-by-acquiring-new-cairo-hospital","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/saudi-healthcare-group-looks-to-enter-egypt-by-acquiring-new-cairo-hospital\/","title":{"rendered":"Saudi healthcare group looks to enter Egypt by acquiring New Cairo hospital"},"content":{"rendered":"

<\/a> Saudi Arabia\u2019s <\/strong>Mouwasat Medical Services<\/a><\/strong> has signed a non-binding MoU to acquire<\/strong> 100% of Al Marasem International Hospital <\/strong>in an all-cash transaction, the company said in a disclosure<\/a> to the Saudi stock exchange. The final value of its purchase from Al Marasem International Development<\/a> will be set after the completion of due diligence, it said. Neither party replied to multiple requests for comment yesterday when we reached out.<\/p>\n

About the hospital: <\/strong>Situated in New Cairo, the 220-bed hospital has been in development for over a decade<\/a> but Al Marasem has reportedly not been able to acquire funding<\/a> to finish construction or purchase beds and medical equipment. The real estate developer, a subsidiary of the Saudi construction giant Binladin Group, had been looking to borrow EGP 700 mn<\/a> to complete the EGP 1.5 bn facility back in 2020.<\/p>\n

About Mouwasat: <\/strong>The Tadawul-listed company owns six hospitals<\/a> in Saudi Arabia. The acquisition would, if it goes through, appear to be Mouwasat\u2019s first foray into a foreign market. The group, which has said it aims to expand<\/a> across the region, posted earnings<\/a> of SAR 150.2 mn (EGP 737 mn) in 1Q 2022, up 2% y-o-y.<\/p>\n

This is the third potential investment in Egypt by a Saudi entity we\u2019ve gotten wind of this we<\/strong>ek: <\/strong>This week, we\u2019ve heard that the Saudi wealth fund is considering purchasing United Bank<\/a> from the Central Bank of Egypt, and a Saudi food company is close to acquiring<\/a> the Egyptian Belgian Company.<\/p>\n

It\u2019s also the second healthcare M&A of the week<\/strong> after meds distributor Ibnsina said it was getting into the hospitals business with the EGP 430 mn purchase of Al Shorouk Hospital.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia\u2019s Mouwasat Medical Services has signed a non-binding MoU to acquire 100% of Al Marasem International Hospital in an all-cash transaction, the company said in a disclosure to the Saudi stock exchange. The final value of its purchase from Al Marasem International Development will be set after the completion of due diligence, it said. […]<\/p>\n","protected":false},"author":1,"featured_media":546653,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[1933,72,7128,1932,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-al-marasem-international-hospital","tag-enterpriseam","tag-ma-watch","tag-mouwasat","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"44c168bc-f930-4317-9d4e-fe77b2435b11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/313.jpg","photo_position":"above","related_issue":[546644],"teaser":"","voice_url":""},"yoast_head":"\nSaudi healthcare group looks to enter Egypt by acquiring New Cairo hospital - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/saudi-healthcare-group-looks-to-enter-egypt-by-acquiring-new-cairo-hospital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi healthcare group looks to enter Egypt by acquiring New Cairo hospital\" \/>\n<meta property=\"og:description\" content=\"Saudi Arabia\u2019s Mouwasat Medical Services has signed a non-binding MoU to acquire 100% of Al Marasem International Hospital in an all-cash transaction, the company said in a disclosure to the Saudi stock exchange. The final value of its purchase from Al Marasem International Development will be set after the completion of due diligence, it said. 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The\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642383,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/al-marasem-inks-jv-mou-with-consortium-of-doctors-to-establish-medical-complex-in-new-cairo\/","url_meta":{"origin":546652,"position":1},"title":"Al Marasem inks JV MoU with consortium of doctors to establish medical complex in New Cairo","author":"enterpriseam admin","date":"13 August 2017","format":false,"excerpt":"Saudi Binladin Group subsidiary Al Marasem International for Development signed an MoU on Saturday with a consortium of doctors to establish a joint venture to oversee the completion of a new medical complex in New Cairo, Al Borsa reports. Al Marasem will hold a controlling stake of 50% in the\u2026","rel":"","context":"In "Health + Education"","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":620260,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/government-readies-land-transfer-following-arrival-of-final-tranche-of-ras-el-hekma-funds\/","url_meta":{"origin":546652,"position":2},"title":"Government readies land transfer, following arrival of final tranche of Ras El Hekma funds","author":"enterpriseam admin","date":"19 May 2024","format":false,"excerpt":"The state will transfer the land \u201cin the coming days,\u201d cabinet spokesman Mohamed El Homsani said","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1396.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632468,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/bin-laden-groups-al-marasem-to-invest-egp-29-bn-in-two-new-real-estate-projects-in-egypt\/","url_meta":{"origin":546652,"position":3},"title":"Bin Laden Group\u2019s Al Marasem to invest EGP 29 bn in two new real estate projects in Egypt","author":"enterpriseam admin","date":"12 February 2018","format":false,"excerpt":"INVESTMENT WATCH- Al Marasem to invest EGP 29 bn in two real estate projects over 5-7 years: Bin Laden Group subsidiary Al Marasem International for Development is planning to invest EGP 29 bn in two new real estate projects in Egypt over the next five to seven years, CEO Tarek\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571656,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/19\/al-marasem-reportedly-seeking-egp-700-mn-facility-for-new-cairo-hospital-medical-labs\/","url_meta":{"origin":546652,"position":4},"title":"Al Marasem reportedly seeking EGP 700 mn facility for New Cairo hospital, medical labs","author":"enterpriseam admin","date":"19 May 2020","format":false,"excerpt":"Al Marasem International Development is reportedly in the market for EGP 700 mn to finance part of a planned EGP 1.5 bn project to build a hospital and medical labs in New Cairo, Al Shorouk reports, quoting anonymous banking sources.","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601563,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/seven-banks-agree-to-lend-al-marasem-egp-1-6-bn-for-new-cairo-project\/","url_meta":{"origin":546652,"position":5},"title":"Seven banks agree to lend Al Marasem EGP 1.6 bn for New Cairo project","author":"enterpriseam admin","date":"4 March 2019","format":false,"excerpt":"Seven banks have agreed to provide a EGP 1.6 bn Islamic loan to Al Marasem International for Development to finance the construction of its \u201cFifth Square\u201d project in New Cairo, sources told Hapi Journal. The loan will be extended over a six or seven-year period, and the company is expected\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546652"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546652\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546653"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546652"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546652"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}