Cairo – Mubasher: Cleopatra Hospital Co. has announced that it signed an agreement with Taleem Management Services, the owner of Nahda University.

Under the agreement, both companies will create a joint venture (JV), Cleopatra added in a statement released on Tuesday.

Cleopatra will hold 90% of the JV, while Taleem will hold the remaining 10% stake.

The agreement will see the rebuilding, development, operation, and management of Al Nahda Hospital.

From January to the end of March 2019, the company’s net profit went down to EGP 55.139 million, compared to EGP 57.195 million in the year-ago period.