Cairo - Mubasher: The board of Premium Healthcare Group has approved an expansion plan valued at EGP 1.48 billion, including the establishment of four new companies in Egypt and Kuwait as part of its future strategy.
The move will be financed through self-funding or creditor balances, with acquisitions carried out at nominal or book value, according to a bourse filing.
No creditor balances from acquisitions will be converted until their impact is assessed over at least two financial reporting periods.
The first company will be specialized in diagnostic radiology, with an investment of EGP 910 million to expand diagnostic services in Egypt.
It will also set up a company that provides pathology services, with a capital of EGP 460 million.
Premium Healthcare will contribute 50%, alongside Kuwaiti and Egyptian investors, to acquire laboratories and medical clinics in Kuwait.
The third company will operate in the field of tissue analysis, with a capital of EGP 80 million.
The fourth venture, Insightful Vision Group, will have a capital of EGP 30 million.
Premium Healthcare will hold a 77% shareholding, using the vehicle to acquire specialized clinic operations.
In April, Premium Healthcare’s ordinary general meeting approved raising the issued and paid-up capital to EGP 2.36 billion from EGP 81.48 million.
