IFC and Egyptians for Health Care Services partner to develop major medical center in Egypt

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Cairo, Egypt, June 28, 2022—IFC today partnered with private health care developer Egyptians for Health Care Services (EHCS) to support the construction and operation of CapitalMed, a sprawling medical center on the outskirts of Cairo that will improve health services in the country.

The private CapitalMed Health Care City is expected to include a general hospital and 19 specialty centers, focusing on a wide range of services from trauma and long-term care to organ transplants. In its first phase, opening to the public in 2023, the hub will include a multi-specialty hospital with more than 300 beds, an ambulatory care center and a hospital specialized in virtual care. When completed, the healthcare city will house more than 4,000 beds, 700 intensive care units and 70 operating theatres.

IFC will advise EHCS on the design, structuring, budgeting and management of the project while identifying strategic investors. The center is designed to help strengthen Egypt’s health system, which is facing a shortage of hospital beds, particularly in intensive care units, and specialist centres.

“The idea of ​​creating a full-fledged healthcare city has always been a dream for healthcare professionals in Egypt. As part of efforts to transform healthcare provision while contributing to economic development , the idea has resulted in an unprecedented project that will meet both local and regional needs,” said Dr. Hassan El Kalla, President and CEO of Egyptians for Health Care Services.

“A well-functioning health system is crucial for Egypt’s future,” said Cheick-Oumar Sylla, IFC’s Regional Director for North Africa. “Given the challenges facing the public healthcare system, increasing the role of private providers will be essential if Egypt is to achieve its ambitious goal of universal healthcare coverage within the next eight years.”

The CapitalMed project, which will be carried out by the Egyptians for health care services, will be built in the city of Badr, opposite the new administrative capital, near New Cairo. It will serve a population of over five million people living within a 20-minute radius and over 20 million located within a 90-minute radius.

IFC’s support is part of broader World Bank Group efforts to support Egypt’s goal of achieving universal health coverage, one of the United Nations Sustainable Development Goals for 2030. Last year, IFC launched an advisory program in Egypt to help at least 100 private healthcare providers. improve their patient care systems and expand access to safe, quality health care.

IFC has an active portfolio of $2 billion in health care companies in emerging markets, helping private providers meet growing demand for health care.

About IFC
IFC, a member of the World Bank Group, is the world’s largest development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private businesses and financial institutions in developing countries, leveraging the power of the private sector to end poverty. extreme poverty and boost shared prosperity as economies grapple with the effects of the COVID-19 pandemic. For more information, visit www.ifc.org.

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About CHHS

Egyptians for Health Care Services (EHCS) is a private joint-stock company founded in 2014 by a group of experienced healthcare professionals and investors to establish and operate healthcare facilities, institutes for health education, training and research. EHCS is managed by a distinguished Board of Directors led by Dr. Hassan El Kalla and supported by seasoned professionals from diverse backgrounds in the business, institutional and healthcare sectors.
EHCS launched its first CapitalMed Health Care City project to provide high quality integrated and personalized health services. The project will be built on 137.32 Feddans (576,600 square meters).

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