{"id":619987,"date":"2024-05-14T00:00:00","date_gmt":"2024-05-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/14\/local-players-are-setting-up-a-usd-100-mn-healthcare-venture\/"},"modified":"2024-05-14T00:00:00","modified_gmt":"2024-05-14T00:00:00","slug":"local-players-are-setting-up-a-usd-100-mn-healthcare-venture","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/14\/local-players-are-setting-up-a-usd-100-mn-healthcare-venture\/","title":{"rendered":"Local players are setting up a USD 100 mn healthcare venture"},"content":{"rendered":"

A new healthcare player to enter the scene:<\/strong>Prominent VC investors of Shark Tank fame Allianz Middle East Ship Management General Manager Ahmed Tarek Khaliland Mohamed Farouk have invested USD 100 mn to set up a healthcare firm, Khalil told Asharq Business<\/a>. The two are yet to name the new company, Khalil added.<\/p>\n

Grand plans:<\/strong> The company \u2014 of which each partner will own a 50% stake \u2014 will be responsible for establishing 1k clinics targeting lower to middle income patients, diagnostic laboratories, and pharmacies over the next three years, according to Khalil.<\/p>\n

The local healthcare sector has had considerable interest from investors this year: <\/strong>In the first few months of 2024, news broke<\/a> that China State Construction Engineering Corporation \u2014 the largest construction company in the world by revenue \u2014 is in talks with the government to build a medical city project on the outskirts of the new capital. The local arm of UK conglomerate NHMC Group was also awarded a plot of land to set up a USD 300 mn medical and educational complex<\/a> in Shorouk City. <\/p>\n

These are welcome developments for the state:<\/strong> President Abdel Fattah El Sisi insisted<\/a> that legislative steps be taken to increase the role of the private sector in Egypt\u2019s healthcare in late March after the Madbouly government shared its target to raise<\/a> the private sector\u2019s share in healthcare to 50% by 2027 \u2014 up from a current 30% \u2014 in the next fiscal year. <\/p>\n

Egyptian-Emirati healthcare cooperation? <\/strong>Health Minister Khaled Abdel Ghaffar discussed health cooperation with the Abu Dhabi Health Department head Mansour Al Mansouri on the sidelines of Abu Dhabi\u2019s Global Healthcare Week, a ministry statement<\/a> said. The two discussed collaborating to help establish a virtual hospital \u2014 an online platform that offers patients the option of attending checkups and talking to doctors online.<\/p>\n

Cooperation with Greece is also on the agenda:<\/strong> Abdel Ghaffar also discussed healthcare cooperation with his Greek counterpart Adonis Georgiadis on the sidelines of the event, according to a separate ministry statement<\/a>. The pair explored cooperation in building and upgrading healthcare facilities, exchanging knowledge, and enhancing medical tourism between the two countries.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new venture will establish 1k clinics targeting low-to-middle income families in Egypt<\/p>\n","protected":false},"author":1,"featured_media":619988,"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":[72,7115,125],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-619987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-healthcare","tag-enterpriseam","tag-healthcare","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"610320e5-c5cc-411c-a19f-2480d8803318","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/912.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian players are setting up a USD 100 mn healthcare venture","related_issue":[619977],"teaser":"The new venture will establish 1k clinics targeting low-to-middle income families in Egypt","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.85090396-7913-465f-b68c-7904c2288a7c.mp3"},"yoast_head":"\nLocal players are setting up a USD 100 mn healthcare venture - 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