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Cleopatra Hospital denies news on acquiring Alameda

Cleopatra Hospital denies news on acquiring Alameda
Cleopatra Hospital achieved net profits of EGP 265.35 million in 2019
Cleopatra Hospital
CLHO
-0.83% 7.21 -0.06

Cairo – Mubasher: Cleopatra Hospital Cdenied news about the completion of its acquisition of Alameda Healthcare next week.

Any material information will be disclosed to the bourse, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

In November 2019, the company’s CEO Ahmed Ezzeldin said that Cleopatra Hospital is looking to complete a deal to acquire one of the largest vitro fertilisation (IVF) centres in Egypt.

Earlier, the company’s board of directors approved the acquisition of 100% of a medical group owning several hospitals in an Arab country.

It is noteworthy to mention that in 2019, Cleopatra Hospital Co. achieved net profits of EGP 265.35 million, down from EGP 315.19 million in 2018, including minority shareholders’ rights.