Abu Dhabi investment group Yas Holding has secured a concession deal to manage and operate Egypt’s Al-Azhar University Specialised Hospital, marking its foray into the Egyptian healthcare industry.
The public-private partnership (PPP) between Yas Holding’s Global Medical Solutions International (GMSI) and Al-Azhar Al Sharif in Egypt will boost the company’s healthcare portfolio, said Suresh Vaidhyanathan, Group CFO at Yas Holding.
Yas Holding’s healthcare portfolio includes biopharma, medical supply chain provision, hospital and clinic management, manufacturing and healthcare technology.
The concession deal is said to be the first of its kind in Egypt’s healthcare sector. However, Yas Holding did not provide more details about the contract, including its value.
“This is a valuable addition to our growing healthcare portfolio that is well diversified across the value chain. We are honoured to be the first strategic partner to sign the PPP to serve the transforming Egyptian healthcare sector,” Vaidhyanathan said.
Last March, Yas Holding acquired a controlling stake in Geltec Healthcare’s manufacturing plant in Jebel Ali that produces supplements. The company is also reportedly looking to acquire a portion of hospital operator NMC Health’s distribution arm.
(Writing by Cleofe Maceda; editing by Daniel Luiz )
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