{"id":644319,"date":"2024-09-24T00:00:00","date_gmt":"2024-09-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/24\/city-lab-rebrands-as-premium-healthcare-group-announces-four-new-acquisition-targets\/"},"modified":"2024-09-24T00:00:00","modified_gmt":"2024-09-24T00:00:00","slug":"city-lab-rebrands-as-premium-healthcare-group-announces-four-new-acquisition-targets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/24\/city-lab-rebrands-as-premium-healthcare-group-announces-four-new-acquisition-targets\/","title":{"rendered":"City Lab rebrands as Premium Healthcare Group, announces four new acquisition targets"},"content":{"rendered":"

City Lab is now Premium Healthcare Group<\/strong>: <\/strong>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)<\/a>. The move is now awaiting the approval of the general assembly.<\/p>\n

It\u2019s already been a busy couple of weeks for the company: <\/strong>Earlier this week the healthcare service provider said it will acquire 50% of five medical companies<\/a> 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> a hospital services management company and it finalizing its <\/a>long-awaited purchase<\/a> of Cairo Clinical Labs, which saw City Lab acquire its target for EGP 59 mn in cash and promised capital increases.<\/p>\n

And there\u2019s more to come: <\/strong>The firm wants to fully acquire four local labs operators \u2014 Hassab<\/a>Labs<\/a>, Town Lab<\/a>, Ezz Laboratories<\/a>, and Maadi for Lab Acquisitions in a EGP 991.7 mn acquisition spree, according to another disclosure (pdf)<\/a>. The acquisitions are yet to be finalized, with the company awaiting their fair value studies. <\/p>\n

A glan<\/strong>ce at the company\u2019s portfolio post acquisitions: <\/strong>Once all of the company\u2019s 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. <\/p>\n","protected":false},"excerpt":{"rendered":"

The firm wants to fully acquire four local labs operators<\/p>\n","protected":false},"author":1,"featured_media":644320,"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":[7304],"tags":[72,427],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-644319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pharma","tag-enterpriseam","tag-pharma","wpautop","entry"],"acf":{"mongo_id":"7a33d2e3-d3e3-4352-bf58-a6677b08717c","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1823.jpg","photo_position":"above","homepage_title":"","full_issue_title":"City Lab rebrands as Premium Healthcare Group, announces four new acquisition targets","related_issue":[644311],"teaser":"The firm wants to fully acquire four local labs operators","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.fe1d4d44-6a4a-4486-adc7-d357fc887bfd.mp3"},"yoast_head":"\nCity Lab rebrands as Premium Healthcare Group, announces four new acquisition targets - 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