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Tuesday, 3 October 2017

GE Healthcare to become anchor limited partner in Rx Healthcare Fund

INVESTMENT WATCH – GE Healthcare is set to become an anchor limited partner of EFG Hermes’ Africa-focused healthcare private equity fund Rx Healthcare. Rx, led by former Health Minister Hatem El Gabaly, is a private equity fund currently under establishment and managed by a newly set up fund manager. “GE Healthcare’s added value to Rx goes far beyond its financial investment: We view GE Healthcare and AfDB as strategic partners who would bring deep industry and geography specific knowledge in many of our target markets,” El Gabaly commented. Rx aims to address growing demand for high-quality healthcare services across North and Sub-Saharan Africa. It’s looking to invest in specialized hospitals, medical diagnostics, and pharmaceuticals and has identified Kenya, Nigeria, Ethiopia, Egypt, Tunisia and Morocco as target markets. The African Development Bank made a USD 20 mn commitment to the fund just about a year ago.

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