Cairo – Mubasher: Cleopatra Hospitals Group plans to invest around EGP 2 billion over the next 18 months to boost capital expenditures (CAPEX), according to a press release.

The group underlined that the investment represents a strategic portion of its cumulative earnings before interest, taxes, depreciation, and amortisation (EBITDA) over the coming two years.

In line with its growth strategy, the listed company aims to complete Phase 1 and 2 of the Sky Hospital project in East Cairo and expand the Cleopatra October facilities in West Cairo.

“We anticipate creating over 750 new roles, encompassing both medical and non-medical employment positions associated with this growth CAPEX,” the company said.

It added: “This expansion will significantly contribute to the economy and provide numerous career opportunities in the healthcare sector.”

In the first nine months (9M) of 2023, the EGX-listed group recorded higher consolidated net profits after tax at EGP 344.97 million, compared to EGP 267.14 million in 9M-22.