Cleopatra Hospital Group S.A.E. (CASE:CLHO) signed an agreement to acquire 60% stake in assets and operations of Bedaya Hospital on September 9, 2020. Out of total consideration, EGP 105 million will be paid as upfront payment and the remaining consideration will be paid based on structured payment plan linked to 2021 and 2022 earnings. The 40% stake in assets and operations of Bedaya will be owned by Ismail Aboul Fotouh. The assets and operations of Bedaya Hospital is expected to contribute in the region of 10% to Cleopatra Hospital Group consolidated EBITDA in future.