In 2014, we initiated our venture into Egypt's hospital sector by investing in Care Healthcare, with the objective of establishing the country's most extensive hospital network to enhance patient-oriented health service infrastructure and widen access to high-quality healthcare. Through Care, we acquired Cleopatra Hospital Company in 2014 and subsequently acquired control of Cairo Specialist Hospital. In 2015 and 2016, our portfolio further expanded our network with the addition of two more hospitals in Greater Cairo, Nile Badrawi Hospital, and AlShorouk Hospital followed by AlKateb and Queens Hospitals in 2019 and Sky and Haven Hospitals in 2021 and 2022 respectively. Today, CHG is one of the largest hospital groups in Egypt and North Africa, boasting over ten facilities and is listed on the EGX. We've leveraged our strong healthcare track record to enhance CHG's medical treatment standards through accreditations, upgrading medical and diagnostic equipment, investing in leadership and talent, providing medical staff training, and implementing advanced patient data management systems. Since our initial investment, we have catered to over 5 million patients and invested more than EGP 1.5 billion in enhancing CHG's facilities, medical equipment, and systems. In 2022, we took a major step by acquiring Care Healthcare, the largest shareholder in CHG, from our Fund II and co-investors, through a continuation fund. www.cleopatrahospitals.com
Impact: Access to Affordable Quality Healthcare
In many countries, governments do not have the capacity to serve the entire population and private healthcare providers often play a pivotal role in meeting societal needs. In Egypt, historic underinvestment and rapid demographic shifts have led to a fragmented healthcare sector with a shortage of quality healthcare services, resulting in an insufficient number of beds proportional to the population size.
Our partner company Cleopatra Hospitals Group (CHG) has invested in expanding its facilities network and hospital bed capacity to improve accessibility of healthcare services for patients in Greater Cairo through a hub and spoke infrastructure. To further enhance affordability, CHG offers interest free subsidized financing to patients providing stretched payment plants for surgical procedures. All the Group's facilities are connected through a common EMR/HIS/ERP system, which was rolled out as part of CHG's digital transformation journey, enabling cloud access of patient medical records from any facility, while at the same time providing the building blocks for an integrated supply chain which allows improved procurement leading to more affordable care pricing. The Group has developed an inhouse cloud healthcare solution, CLINIcare pro®, an innovative antimicrobial stewardship module that aims to reduce excess antimicrobial use, leading to a reduction in antimicrobial resistance and other related complications along with reduced ICU length of stays. As part of its impact agenda to develop the next generation of medical practitioners, CHG trained over 2000 of its employees during the Covid-19 pandemic, a testament to its ongoing commitment to staff development and ensuring safety and care not just for its patients but also for its employees. To reaffirm CHG’s commitment to gender balance, CHG is a signatory to the Gender Diversity Pledge, which recognizes the importance of gender diversity in the workplace and commits companies to develop gender focused initiatives. CHG has introduced training programs for women to enhance their leadership skills, as well as implemented initiatives for the recruitment, and promotion of female staff into executive positions, and the recruitment of women into junior and middle management positions.