{"id":556473,"date":"2021-10-27T04:18:45","date_gmt":"2021-10-27T04:18:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/27\/cleopatra-hospitals-to-develop-a-400-bed-medical-facility-in-east-cairo\/"},"modified":"2021-10-27T04:18:45","modified_gmt":"2021-10-27T04:18:45","slug":"cleopatra-hospitals-to-develop-a-400-bed-medical-facility-in-east-cairo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/27\/cleopatra-hospitals-to-develop-a-400-bed-medical-facility-in-east-cairo\/","title":{"rendered":"Cleopatra Hospitals to develop a 400-bed medical facility in East Cairo"},"content":{"rendered":"

<\/a> Cleopatra Hospitals Group purchased a brownfield project in East Cairo to <\/strong>develop into a 400-bed medical facility<\/strong>, according to a disclosure to the bourse (pdf)<\/a>. The disclosure did not specify how much Cleopatra is paying for the facility. The EGX-listed healthcare group had signed the agreement with an undisclosed seller earlier this month and is now seeking approval from the Health Ministry and satisfying other conditions precedent before completing the purchase.<\/p>\n

The development is expected to take 18-24 months to complete once the approvals come through<\/strong>, CHG Corporate Strategy and Investor Relations Director Hassan Fikry told Enterprise. The brownfield project currently lacks facilities, including beds and medical equipment, but would not require as much time to complete as would a greenfield.<\/p>\n

The agreement, if approved, would mark the group\u2019s first major development in East Cairo<\/strong>, save for one polyclinic project<\/a>. The move is part of CHG\u2019s larger plan for geographical expansion across Cairo that would see the company expanding its footprint and services<\/a>. The EGX-listed company is the largest hospital group in Egypt, with six hospitals and two polyclinics under its belt. CHG had previously eyed expansion through a mega-merger with private healthcare group Alameda, but the transaction fell through<\/a> earlier this year. Cleopatra had also previously acquired<\/a> a 60% stake in Bedaya Hospital last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cleopatra Hospitals Group purchased a brownfield project in East Cairo to develop into a 400-bed medical facility, according to a disclosure to the bourse (pdf). The disclosure did not specify how much Cleopatra is paying for the facility. The EGX-listed healthcare group had signed the agreement with an undisclosed seller earlier this month and is […]<\/p>\n","protected":false},"author":1,"featured_media":556474,"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":[7410],"tags":[192,72,7115],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-healthcare","tag-cleopatra-hospitals-group","tag-enterpriseam","tag-healthcare","wpautop","entry"],"acf":{"mongo_id":"8cdf6bdd-19aa-4097-99af-9324ffa46d30","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/287.jpg","photo_position":"above","related_issue":[556466],"teaser":"","voice_url":""},"yoast_head":"\nCleopatra Hospitals to develop a 400-bed medical facility in East Cairo - 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\/2021\/10\/27\/cleopatra-hospitals-to-develop-a-400-bed-medical-facility-in-east-cairo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cleopatra Hospitals to develop a 400-bed medical facility in East Cairo\" \/>\n<meta property=\"og:description\" content=\"Cleopatra Hospitals Group purchased a brownfield project in East Cairo to develop into a 400-bed medical facility, according to a disclosure to the bourse (pdf). 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Another lives on","author":"enterpriseam admin","date":"28 April 2022","format":false,"excerpt":"Cleopatra Hospitals cancels plans for 400-bed medical facility: Cleopatra Hospitals Group (CHG) will not be moving forward with its brownfield project in East Cairo, the company announced in a regulatory filing (pdf) on Tuesday. The company called off the investment after conditions precedent were not met, Hassan Fikry, CHG\u2019s executive\u2026","rel":"","context":"In "Healthcare"","block_context":{"text":"Healthcare","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/healthcare\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/397.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553865,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/ci-capitals-cleopatra-bid-gets-regulatory-approval\/","url_meta":{"origin":556473,"position":1},"title":"CI Capital\u2019s Cleopatra bid gets regulatory approval","author":"enterpriseam admin","date":"12 December 2021","format":false,"excerpt":"CI Capital\u2019s bid to acquire 26.2% of Cleopatra Hospitals Group has received the greenlight from the Financial Regulatory Authority (FRA), the regulator said in a statement (pdf) to the EGX on Thursday. MCI Capital Healthcare Partners, the CI Capital subsidiary that\u2019s executing the acquisition, submitted a voluntary tender offer last\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/293.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604513,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/05\/earnings-watch-cleopatra-hospitals-group-reports-3q2018-results\/","url_meta":{"origin":556473,"position":2},"title":"Earnings watch: Cleopatra Hospitals Group reports 3Q2018 results","author":"enterpriseam admin","date":"5 December 2018","format":false,"excerpt":"EARNINGS WATCH- Cleopatra Hospitals Group reported a 186% y-o-y increase in net profit to EGP 91.6 mn in 3Q2018 from EGP 32 mn in 3Q2017, according to the company\u2019s earnings release (pdf). 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This came on the back of 16% growth in revenues to EGP 623.8 mn.On a nine-month basis: CHG\u2019s\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/enterpriseam.com\/egypt\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602111,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/19\/cleopatra-completes-acquisition-of-el-katib-moves-ahead-with-queens\/","url_meta":{"origin":556473,"position":4},"title":"Cleopatra completes acquisition of El Katib, moves ahead with Queens","author":"enterpriseam admin","date":"19 March 2019","format":false,"excerpt":"M&A WATCH- Cleopatra completes acquisition of El Katib, adds 100 beds: Cleopatra Hospitals Group (CHG) has completed its acquisition of the assets of El Katib Hospital in Dokki, adding 100 beds to its inpatient capacity, according to the group\u2019s annual report (pdf). Alongside the added capacity, the move will see\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":556517,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/bidding-war-for-alex-medical-cooling-off\/","url_meta":{"origin":556473,"position":5},"title":"Bidding war for Alex Medical cooling off?","author":"enterpriseam admin","date":"28 October 2021","format":false,"excerpt":"The bidding war for Alex Medical appears to be cooling down, with Alexandria Medical Investment subsidiary TAT Medical Service being the latest to pull its offer to acquire up to 100% of Alex Medical Services, according to a Financial Regulatory Authority statement (pdf). The company notified the regulator yesterday, according\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/307.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556473","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=556473"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556473\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556474"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556473"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556473"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}