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CHG transforms hospitals into COVID-19 isolation facilities - Daily News Egypt

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CHG transforms hospitals into COVID-19 isolation facilities

Company reported revenues of EGP 502.9m in 1Q 2020, with net profit of EGP 88m


The Cleopatra Hospitals Group (CHG) announced that it has transformed two Cairo-based healthcare facilities into fully-equipped COVID-19 isolation and treatment facilities.

The conversion of the El-Katib and Queens Royal Hospitals, which started in mid-May, means the group’s six remaining facilities can continue offering the full suite of services and procedures.

It will also ensure that patients and staff will have reduced risk of exposure to the virus, as cases will be sent to the two converted facilities.

“The group continues to provide medical services to patients across the greater cairo area, serving a total of more than 247,000 cases during the first three months of the year,” said Ahmed Ezzeldin, CHG’s chief executive officer. “It is important to note that following the COVID-19 outbreak in the second half of March and the rollout of containment measures by the Egyptian government, the group witnessed a material decline in patient volumes across the group’s facilities in the latter half of March and the whole of April.”

Ezzeldin noted that the reduction in patient volume was due to elective procedures and non-urgent consultations being postponed. Patient volume throughout May and the first weeks of June have shown a steady recovery, with the slowdown expected to weigh down on the second quarter’s financial and operation results.

CHG reported revenues of EGP 502.9m in the first quarter (1Q) of 2020, with net profits at the end of the period recording EGP 88m.

The group’s bottom-line profitability in 1Q 2020 was supported by the normalisation of the group’s LITP expenses and impairments which had weighted down on results in the same period of 2019.    

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https://dailyfeed.dailynewsegypt.com/2020/06/22/chg-transforms-hospitals-into-covid-19-isolation-facilities/
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