Cleopatra Hospitals Invests EGP 528M In Infrastructure, Expansion During 9M 2023

11/26/2023 2:08:22 PM

(MENAFN- Daily News Egypt) Cleopatra Hospitals Group, one of the largest private healthcare providers in Egypt, announced Sunday that it invested EGP 528m in the first nine months of this year, mainly in the infrastructure of its hospitals.

According to its business results report, the company allocated 20% of its investments to infrastructure and networks, as well as the new centers that it opened.

The report also stated that the investments included advance payments for capital purchases that have not yet been delivered, reflecting the company's proactive approach in anticipating potential price shocks and delivering its expansion plans on time to hedge against unforeseen circumstances.

Ahmed Ezz El-Din, the Managing Director of Cleopatra Hospitals Group, said that the company is expected to open Sky Hospital in the Fifth Settlement area early next year, which will become the company's main facility in East Cairo. He added that the company has also transformed Cleopatra Hospital in the Sixth of October city into its main facility in West Cairo, as it gradually becomes an integrated hospital rather than just a rehabilitation center.

Ezz El-Din also said that the company achieved record revenue of EGP 2.5bn for the first time, supported by the interdependent services offered by its hospitals. He explained that this figure exceeded the company's targets for the year.

The report showed that the company's revenues increased by 33% during the first nine months of this year, reaching EGP 2.53bn, compared to EGP 1.9bn in the same period of last year.

The company's profits also increased by 29% during the same period, reaching EGP 344, compared to EGP 267 in the previous year.

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