Cleopatra Hospitals Group has invested more than EGP 1bn in quality, infrastructure, and medical technology development since 2015.
The company noted that it had not distributed annual dividends, with 100% of the retained earnings reinvested in the group’s business.
It added that the proposed alliance with the Alameda Healthcare Group will lead to an increase in the investment potential of the healthcare sector. At the same time, it will provide better access to low-cost capital that will be directed towards the governorates that suffer from a shortage of hospital capacity.
Cleopatra Hospitals added that its market share has grown within five years, to about 8% of the capacity of the commercial beds in the Greater Cairo. It is expected that the allied group’s share will reach 15% after the deal’s completion, ensuring the availability of an estimated 14,000 commercial beds.
The Competition Protection Authority (CPA) had issued a preliminary decision against the Cleopatra Hospitals Group’s acquisition of the Alameda Healthcare Group. The CPA based its decision on indications that the deal would have a negative impact on Egypt’s healthcare sector.
The CPA added that it is keen to prevent monopolistic activities in Egypt’s healthcare market, and the harm that may follow whether in the provision of healthcare or price hikes.
The UAE company Alameda owns and operates a number of hospitals and medical centres in Egypt through its subsidiaries, including the Al-Salam International Hospital in Maadi, Dar Al-Fouad in 6th of October, Dar Al-Fouad in Nasr City, and Al-Salam International Hospital in Katameya.