Egypt’s Life Care, Czech LINET to form hospital bed manufacturing venture

Egypt’s Life Care Technology and Czech hospital bed manufacturer LINET signed an agreement to establish a joint venture to produce hospital beds in Egypt, the Egyptian Unified Procurement Authority (UPA) said on Wednesday.

The memorandum of understanding provides for a manufacturing partnership with equal ownership stakes of 50 per cent for each company, the UPA statement read.

The agreement was signed in the presence of Unified Procurement Authority Chairman Hesham Stait and Czech Ambassador to Egypt Ivan Jukl.

Stait said the project would support technology transfer and local production of hospital beds built to international standards.

He added that the UPA is studying mechanisms to procure future output from the facility to help meet domestic demand, particularly as Egypt expands its universal health insurance programme.

The partners also expect the venture to serve export markets in Africa and the broader region.

Egypt has been seeking to attract foreign investment into medical manufacturing and increase local production of healthcare equipment as part of efforts to strengthen domestic industrial capacity.

Attribution: Amwal Al Ghad English