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Tuesday, 13 December 2022

PTS Projects invests in local healthcare network EDAM

Local healthcare company EDAM has new shareholders: PTS Investments Holdings’ Egyptian arm PTS Projects has acquired a minority stake in local healthcare startup EDAM in a USD six-figure transaction, marking its first transaction in our local market, PTS Investments Managing Director Maha Mandour told Enterprise.

Going digital: EDAM will use the proceeds from the acquisition to develop a digital platform with PTS Projects and US-based Kemtix Technologies that it hopes to launch during 1H 2023, Mandour said. The company aims to hit 2.5 mn users by the end of 2023, it said in a statement (pdf).

About EDAM: Founded in 2019, EDAM runs a health services network that connects patients with over 3k medical services providers.

More investments in the pipeline: PTS Projects is looking at making acquisitions in the health, education, transport, logistics and energy sectors, Mandour told us.

DENTACARTS TO ENTER SAUDI-

Egyptian dental marketplace DentaCarts will launch in Saudi Arabia during 1Q 2023, co-founder and CEO Ahmed Yahia told Enterprise. The company has already received a Saudi entrepreneur license, giving it the greenlight to kickstart operations there.

A big funding round in the works? The startup hopes to close a USD 10 mn funding round next quarter to fund its planned expansion into new markets, which include Kenya and South Africa, Yahia reportedly told Al Mal.

About DentaCarts: Founded in 2017, the startup allows dentists to purchase equipment and supplies online, offering financing solutions in partnership with EFG Hermes’ BNPL platform valU.

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