IFC's $45m financing package will be used to partially finance Magrabi's aggressive expansion plans in developing countries including the construction of three new low-cost eye hospitals and four eye referral centers in Egypt and a new 30-bed low-cost eye hospital in Yemen.
The company is also undertaking a separate $30 million expansion plan to build more hospitals in other Arabian Gulf countries.
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Magrabi Hospitals expand in Egypt and Yemen
- Egypt: Monday, February 11 - 2008 at 13:41
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Private eye care in Egypt and Yemen are set to expand with a new partnership between Saudi Arabia's Magrabi Hospitals & Centers and the International Finance Corporation (IFC), a member of the World Bank Group, reported MENAFN. The new deal aims to address the need for high-quality ophthalmology services and bring world-class clinical and patient care to underdeveloped markets in the region. According to the agreement, IFC will provide $20m in equity to Magrabi Hospitals & Centers and $25m in loans to the Magrabi Hospitals in Egypt and Yemen.
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Amena Bakr, Senior ReporterMonday, February 11 - 2008 at 13:41 UAE local time (GMT+4)
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