On the sidelines of the fifth edition of the Startups Without Borders Summit, businessman Ahmed Tariq Khalil revealed a plan to invest $100 million, in partnership with businessman Mohamed Farouk, to establish a healthcare company in the local market. The two partners are working to officially establish the health care company and choose the brand name, noting that this investment is important in the field of medical tourism

The startup company - whose ownership is divided equally between the two partners - aims to establish 1,000 clinics for the middle and lower middle classes, analysis laboratories, and pharmacies during the next three years.

In this context, Dr. Hossam Abdel Ghaffar, the official spokesman for the Ministry of Health and Population, said, “Egypt intends to launch an electronic platform to provide treatment services in Egypt, indicating that Egypt is working to be in the top five ranks among the countries that most receive medical tourism in the world, and to obtain 10% of global medical tourism revenues

Dr. Ahmed Al-Sabki, Chairman of the Public Authority for Health Care and General Supervisor of the Comprehensive Health Insurance Project at the Ministry of Health and Population, pointed out that the size of the medical tourism market in the world is estimated at $115 billion annually. According to the Egyptian Ministry of Health’s estimates of the size of the tourism market in the world, the revenues targeted by Egypt reach $11.5 billion annually.
Egypt is considered one of the countries qualified to receive this type of tourism, as it has qualified health facilities and distinguished doctors, and it also has an ambitious plan and vision to be on the international map in medical tourism, which has stimulated private investment in this profitable health sector in Egypt.

The private sector in the health field within Egypt attracts the attention of millions, as it witnesses remarkable growth and continuous development, which makes it a guaranteed investment market in the country, and enhances confidence in the economic environment and political stability. Medical tourism in Egypt is considered one of the main sectors that attracts thousands annually from different nationalities, due to the competitive advantages that Egypt enjoys in terms of medical quality and low treatment costs compared to other countries. Officials continue to work to improve health infrastructure and develop available medical services, with the aim of enhancing the health sector’s ability to meet the needs of citizens and achieve comprehensive and integrated health care.