ArabFinance: In line with Cleopatra Hospital Companys (CHG) bid to acquire 100% of Alexandria New Medical Center (Alex NMC), CHG is poised to secure an EGP 371-million loan from Ahli United Bank, according to a statement released on May 17th.

CHG is in process of getting the Financial Regulatory Authority (FRA) to go ahead to acquire Alex NMC at EGP 38.53 per share.

Tawasol Group Holding, CHG, and a consortium of Tana Capital Group and Mabaret Al Asafra Hospitals each submitted an offer to acquire Abu Dhabi Commercial Banks (ADCB) stake Alex NMC.

In March, ADCB decided to exit by selling a majority stake of 51% in Alex NMC.

CHGs consolidated net profit levelled up to EGP 286.92 million in 2020 from EGP 257.4 million in 2019.

CHG was established in 2014 after the acquisition of its East Cairo Hospitals, Cleopatra Hospital, and Cairo Specialized Hospital. The group expanded its geographical network in West Cairo to acquire two additional facilities, namely Nile Badrawi Hospital in 2015 and Al Shorouk Hospital in 2016.

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