Cairo – Mubasher: Cleopatra Hospitals Group (CHG), has entered into a strategic partnership with Mumtada Medical Care Company, the healthcare arm of Saudi Arabia’s Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail), to launch 200-bed rehabilitation and long-term care facility in Riyadh.
The facility is scheduled to start operations in late 2024, according to a bourse filing.
The project will provide long-term care, post-acute rehabilitation, and outpatient services to meet a variety of medical needs.
Under the partnership, CHG will support Mumtada 's operations in the kingdom, including the new medical facility’s operations.
CHG will receive pre-operational and operational services fees, along with performance-based incentives following the facility's inauguration.
It is noteworthy that Cleopatra Hospitals posted a consolidated net profit after tax of EGP 469.29 million in 2023, up from EGP 356.73 million in 2022.
