Celopatra Hospital Co on Thursday denied news circulating that it has acquired El Katib Hospital at EGP 350 million.
The final value of the acquisition will be disclosed ahead of executing the deal, along with getting the approval of the health ministry, the healthcare firm said in a filing to the Egyptian Exchange (EGX).
Celopatra Hospital’s ordinary general meeting (OGM) nodded to the fair value report presented by the independent financial advisor of El Katib Hospital, which set it at EGP 266 million.
Cleopatra Hospital previously reported a consolidated profit of EGP 224.9 million in the first nine months of 2018, from EGP 84.6 million in the prior-year period.
Meanwhile, standalone profits jumped to EGP 147.2 million from January to September, versus EGP 62.9 million in the same period a year earlier.
By 12:51 PM Cairo time, Cleopatra Hospital’s stock hiked 2.14% to EGP 4.30.