Cairo – Mubasher: Cleopatra Hospital Co. has announced the completion of the acquisition of El-Kateb Hospital.

The operations of the hospital will be managed under the brand of Cleopatra Hospital Company, according to a bourse statement released on Tuesday.

Last month, the company’s board approved the establishment of a new joint-stock company for hospital management and operation.

The new company, 99%-owned by Cleopatra Hospital Co, was established with an issued capital of EGP 30 million for the purpose of managing El-Kateb Hospital.

It is noteworthy that during the first half of 2019, the Cleopatra Hospital logged a net profit of EGP 97.74 million, down from EGP 133.4 million in H1-18.