Middle East Healthcare Company (Saudi German Hospitals) announces that it is working on an arrangement with Batterjee Medical City in Alexandria to provide management supervision.

Middle East Healthcare Company (Saudi German Hospitals) announces that the board of directors has approved the management supervision agreement for Batterjee Medical City in Alex West Alexandria.
Accordingly the hospitals when completed will be operated under the Saudi German Hospital Brand. The foundation stone laying ceremony for the prestigious Batterjee Medical City in Alexandria is planned for 30 Sept 2016 in the presence of dignitaries.

The period of the contract will be valid for 10 (ten) years from the date of signing the agreement.
This project is of four phases with phase one being a world class general hospital at a cost of 1.5 Billion Egyptian Pounds and staff accommodation at an estimated cost of EGP 110 Million. Phase two consists of seven sub specialty hospitals at an estimated cost of EGP five to six Billion and staff accommodation at an estimated cost of EGP 20 Million for each sub specialty hospital. Phase three consists of Medical Tower with 220 clinics at an estimated cost of EGP 200 Million and phase four consists of a medical college at an estimated cost of EGP 700 Million Pounds.

The hospital under Batterjee Medical city in Alexandria is expected to commence operations by the end of 2019 and Middle East Healthcare Company (Saudi German Hospitals) expects to commence earning revenue by the year 2020.
The Batterjee Medical City will complement Saudi German Hospital Cairo which is operational since October 2015 and is one of the largest private Tertiary care hospital in Egypt and position SGH as the leading healthcare player in Egypt. The Batterjee Medical city will provide tertiary care medical care to the people in the North of Egypt and Libya.
Middle East Healthcare Company (Saudi German Hospitals) in due course will announce the positive financial impact of this arrangement.

Middle East Healthcare Company (Saudi German Hospitals) currently provides management supervision to the hospitals outside Saudi Arabia that are owned by Bait Al Batterjee Medical Company as per signed agreements between them. Based on this agreement Middle East Healthcare Company (Saudi German Hospitals) gets 10% of the net profit before taxes and Zakat deductions. These agreements do not put the assets and profits of Middle East Healthcare Company (Saudi German Hospitals) at any risk. Furthermore Middle East Healthcare Company (Saudi German Hospitals) will announce any updates on these projects.