Ezdehar buys stake in Al Tayseer Healthcare

Ezdehar’s investment comes as part of its strategy to open new horizons in all fields, namely in healthcare services, the statement added.

The mid-cap fund comprises contributions from international institutions such as the European Bank for Reconstruction and Development, the European Investment Bank, UK’s CDC Group, and the Dutch Entrepreneurial Development Bank FMO.

Buying the equity will help Ezdehar invest in a number of hospitals while expanding its chain of laboratories in the coming years, according to the statement.

The private equity firm had announced, four years ago, the first close for its inaugural Ezdehar Egypt Mid-Cap Fund with $70 million (EGP 1.10 billion) in commitments.

Managing Director of Ezdehar Emad Barsoum commented, "We aim to strengthen our efforts to develop the company's management, governance systems, and structure, in order to become one of the leaders in the sector of health services in Egypt."

Kuwait-based KAMCO Investment Company played the role of Al Tayseer Healthcare’s financial advisor, the statement noted.

Negotiations over Ezdehar Egypt Mid-Cap Fund’s non-controlling equity have reportedly started earlier this year.

*At press time, the conversion rate is $1 = EGP 15.76