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Tuesday, 15 September 2020

Ezdehar Egypt Mid-Cap Fund acquires minority stake in Al Tayseer Healthcare Group

M&A WATCH- Ezdehar Egypt Mid-Cap Fund has acquired a minority stake in Al Tayseer Healthcare Group, according to an Ezdehar statement (pdf). The statement does not disclose the exact size of the stake or the value of the acquisition. Al Tayseer  — which the Egypt-focused PE outfit began eyeing up earlier this year — has been pushing ahead with a EGP 700 mn expansion plan, including building a new hospital on the Banha-Mansoura road and upgrading its Zagazig Hospital to add 90 beds to its capacity.

Ezdehar is looking to help Al Tayseer invest more in its hospitals, and also its laboratories, according to the statement. Ezdehar founding partner Emad Barsoum had said last month that the firm — whose limited partners include the European Bank for Reconstruction and Development, the European Investment Bank, UK’s CDC Group, and the Netherlands’ FMO — has drawn down most of the funds committed to its midcap fund and was likely to make its final investment soon. It is unclear whether the final investment is the stake purchase in Al Tayseer. Barsoum said in August the firm is in the market to raise a further USD 200 mn to invest in midcap companies.

CORRECTION- 17 September, 2020

A previous version of this story incorrectly spelled Al Tayseer as Al Taisier. 

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