Count Down to relaunch

Ibnsina Pharma to launch two new firms before end-2021

Ibnsina Pharma to launch two new firms before end-2021

ArabFinance: Ibnsina Pharma (ISPH) is planning to launch two new companies in the fields of digital technology and logistics before the end of 2021, the company’s Investor Relations and Corporate Communication Manager Mohamed Shawky told Al Mal Newspaper.

The company has already finalized the establishment procedures of the digital technologies company, which will invest in the healthcare services and launch new medical apps, Shawky highlighted.

The other company will be specialized in the logistics field to operate in building storages for third parties and to offer other services, he added.

The two companies will be operational under the umbrella of Ibnsina’s investment arm in the healthcare sector, he said.

Ibnsina Pharma’s board of directors will determine the capitals of each company as well as the investment volume intended to be pumped into both of them over the coming period, Shawky stressed.

In July 2020, the board of Ibnsina Pharma approved the establishment of a company for investment in the various fields of the healthcare sector with EGP 750 million in capital.

On the other hand, Ibnsina Pharma invested around EGP 76 million during the first half (H1) of 2021, of which EGP 20.5 million were injected into digital expansion through upgrading the current technological infrastructure and launching new systems, in addition to the launch of ISP Suppliers Digital Platform.

The company plans to pump investments worth EGP 64 million until the end of this year to boost sales, to bring total investments in 2021 to EGP 140 million, Shawky said.

#Related keywords


Recommended Stocks

04 Oct 2021
United Housing & Development UNIT

All rights reserved to Arab Finance 2020 ©

Back to top