Cleopatra Hospital to Acquire Alameda Health’s Egypt Assets

Cleopatra Hospital Group, the biggest Egyptian private hospital operator by number of beds, agreed to buy Alameda Healthcare Group’s assets in the country in one of the largest African health-care transactions this year, Bloomberg News reported. The board of Cleopatra has approved the planned purchase, according to a statement yesterday. Cleopatra plans to partially fund the deal by issuing convertible loan notes to Alameda controlling shareholder Fahad Khater. The deal could value Alameda at about $450 million to $500 million including debt. Khater, Alameda’s founder, will become the second-largest shareholder in the combined group with an expected stake of about 25% after the transaction, the person said, asking not to be identified because the information is private. Read more.