Cleopatra Hospitals, Fawaz Al Hokair’s unit partner to support healthcare in Saudi Arabia

Cleopatra Hospitals, Fawaz Al Hokair’s unit partner to support healthcare in Saudi Arabia

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.

Cleopatra Hospitals, Fawaz Al Hokair’s unit partner to support healthcare in Saudi Arabia