Cleopatra Hospitals Group to invest EGP 2 bln in Egypt's healthcare sector

The hospital chain announced that it would direct the dedicated investments to the construction of the first and second phases of the Sky Hospital project in East Cairo, the expansion of the Cleopatra October facilities in West Cairo, and expanding polyclinic activities across Greater Cairo.

CHG said that it plans to add more than 300 beds to its healthcare facilities in Greater Cairo and generate over 750 new jobs.

Polyclinics are healthcare facilities that provide general and specialist examinations and treatments for a wide variety of diseases and injuries to outpatients and are usually independent of a hospital.

Cleopatra Hospital is a public company listed on the Egyptian Exchange since April 2016. The company is owned by UK-based Care Healthcare LTD (32.1 percent) and MCI Capital Healthcare partners (30.77 percent), which is a subsidiary of the state-owned financial services company CI Capital.

According to a report by the African Development Bank (AfDB), Egypt will require approximately 38,000 new hospital beds by 2030 with an estimated investment of between $8 billion to $13 billion with the public sector funding half of these investments.

In June, Egypt's Minister of Finance and head of the General Authority for the Universal Health Insurance System Mohamed Maait announced that the government plans to raise healthcare spending by 15 percent in FY 2023/2024.