The Clap
Ibn Sina Pharma (ISPH) announced the acquisition of Al-Shorouk Hospital, a first-of-its-kind investment for the pharmaceutical products distributor.
The deets
The acquisition deal was worth EGP 430 million, EGP 200 million will be paid in cash, and the rest will be in the form of paying the hospital’s debt obligations.
Ibn Sina stated that the acquisition is in line with the company’s strategy to expand in the health sector.
Why this matters
The company stated that the comprehensive health insurance program adopted by the state urged the company to pump more investments in the health sector, due to expectations of an increase in demand for health care.
