Deal signed to build $90mn hospital in Egypt
Aria Healthcare and Index Healthcare pen MoU for 182-bed facility
Aria Healthcare L.L.C., a subsidiary of American Hospital Management Company (AHMC), has signed a Memorandum of Understanding (MoU) with Index Healthcare Management L.L.C. to construct a $90mn tertiary-care hospital in Egypt.
INDEX Healthcare Management, a subsidiary of INDEX Holding, an Emirati national company, will be assigned as the project manager for the design and construction of the Egyptian American Medical Centre (EAMC). Due diligence and the development of a definitive agreement will occur in the coming months.
EAMC, which will be constructed in 6th October City, Egypt, will be a tertiary-care specialised 182-bed hospital, and a multi-disciplinary cancer centre. It will also include a medical office building that can host 100-physicians’ offices.
The interior of the hospital spans more than 38,000m2 across five floors, including seven state-of-the-art operating rooms, a top-tier 20-room emergency department and a Level IIIB Neonatal Intensive Care Unit (NICU).
Work on the project will commence in 2015, on three phases. The two companies anticipate the hospital to open its doors by 2017.
Ashrafe Ewida, M.D., president of Aria and EAMC, said: “Aria and AHMC are bullish on healthcare investment in North Africa region specially Egypt. EAMC will be our hallmark entry project into the Egyptian market. INDEX Healthcare Management has been in collaboration with our American architect house partner, Gresham, Smith and Partners, in various healthcare projects in the Gulf region.”
Dr. Abdul Salam Al Madani, chairman of INDEX Holding added: “We are excited about this collaboration, as we are always keen to affiliate with qualified international organisations to provide prominent health management solutions and to support healthcare projects in the region.
“INDEX Healthcare Management is a key player in the Middle East region and has strategically positioned itself to pursue more healthcare projects in North Africa in the future and I see this collaboration as a first step towards that goal. Moreover, Aria Healthcare Group is an elite healthcare promoter, and I believe that this cooperation should be fundamental for the future of healthcare industry in Egypt.”