THE EGYPTIAN-AMERICAN ENTERPRISE FUND ANNOUNCES CO-INVESTMENT WITH EZDEHAR MANAGEMENT OF A MINORITY STAKE IN AL-TAYSEER HEALTHCARE GROUP (“THG”)
October 13th, 2020
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PRESS RELEASE
FOR IMMEDIATE RELEASE
October 13, 2020
NEW YORK, NY, October 13, 2020—The Egyptian-American Enterprise Fund (“EAEF”) announced today a co-investment with Ezdehar Management, a leading Egypt-based private equity firm, of a minority stake in Al-Tayseer Healthcare Group (“THG”) in Egypt.
EAEF’s co-investment in THG seeks to contribute to positive, measurable impact in improving access to quality healthcare in Egypt. As the largest healthcare provider in the Nile Delta region—a historically underserved and heavily populated area north of Cairo—THG provides quality, private healthcare services at affordable prices.
Investing in THG represents a unique opportunity to expand access to quality, affordable healthcare in Egypt. THG has witnessed significant growth over the last five years, led by its flagship hospital, Al-Tayseer International Hospital in Zagazig, a major city in the Nile Delta region. THG is poised to expand considerably over the coming years by increasing bed capacity in its Zagazig hospital, the renovation and expansion of its hospital in Mansoura and the establishment of a new hospital in Mit Ghamr, a city in the Nelta Delta region. THG’s future growth will also be supported by its acquisition of Hassab Labs, the leading chain of medical laboratories in Alexandria.
EAEF’s investments in healthcare, which include Dawi Clinics and Smart Medical Services, seek to expand access to vital, affordable health services for Egyptians. By expanding
healthcare access, particularly for those often excluded from traditional networks, our portfolio companies help support a healthier workforce that can actively participate in Egypt’s economy and strengthen the country’s socioeconomic development.
James Harmon, Chairman of EAEF, commented: “Strengthening access to quality, affordable healthcare is a key development priority of EAEF, and we are pleased to support THG, one of Egypt’s leading healthcare providers. THG plays an important role in providing critical healthcare in the Nile Delta region. We are excited by the company’s prospects for further growth in expanding vital health services outside of Cairo.”
–ENDS–
For further information, please contact:
Egyptian-American Enterprise Fund
Press Contact:
Cornelius Queen
cqueen@eaefund.org
About the Egyptian-American Enterprise Fund
The Egyptian-American Enterprise Fund is a United States government-funded private entity. Since the inception of the Enterprise Fund Program, over US $1.1 billion has been invested directly alongside US $6.9 billion invested by private parallel funds.
With original authorized capital from the U.S. Congress of $300 million, EAEF is committed to promoting financial inclusion, job creation, and increasing foreign and domestic investment in Egypt for long-term sustainable economic development. EAEF’s primary mission is to stimulate the Egyptian private sector by providing access to finance, human capital, modern technologies as well as best business practices, while achieving financial profitability.
The fund is led by a board of directors composed of Egyptians, Americans and Egyptian-Americans. The U.S. Agency for International Development (USAID) administers the U.S. foreign assistance program, providing economic and humanitarian assistance in more than 80 countries worldwide. This press release report is made possible by the generous support of the American people through the USAID.
The contents are the responsibility of the Egyptian-American Enterprise Fund and do not necessarily reflect the views of USAID or the United States Government. Further details on EAEF can be found at https://www.eaefund.org.