Egypt's Premium Healthcare Group, which is listed on the local bourse, is planning to establish a subsidiary in Kuwait to carry out acquisitions as part of its expansion plan, according to Beshoy George, Vice Chairman of the Group.

Over the past years, Egyptian companies have witnessed significant expansion in Gulf markets across several sectors, including healthcare, driven by companies' desire to diversify revenue sources and exploit investment opportunities amidst growth of non-oil sectors and the increasing population.

"We will establish a company in Kuwait called Gulf Medical Investments, with a capital of around 460 million Egyptian pounds ($9.5 million)," George told Zawya Arabic. He noted that the investment will be provided through self-financing and convertible debt in the company.

Premium Healthcare Group was founded in 2014 under the name City Lab for Medical Analysis (formerly), and it operates in Egypt, Saudi Arabia, the UAE, and Jordan.

According to George, the new company will acquire three integrated medical laboratories and specialized clinics in Kuwait, and also aims to expand into Oman and Qatar.

Click here to read the article in Arabic.