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Tuesday, 15 November 2022

Alex Medical appoints new board after Tawasol-LimeVest acquisition

Alex Medical gets a post-acquisition board shake-up: Alexandria Medical Services has welcomed new faces to its board after shareholders in September sold more than 70% of the company to a consortium of LimeVest and Tawasol Holding, the company said in an EGX disclosure (pdf) yesterday.

Heading up the board: LimeVest Managing Partner Sharif El Akhdar (LinkedIn) will serve as non-executive chairman. Tawasol’s Anas Amin was appointed non-executive vice chairman, and Alaa Abdelmeguid Messaoud, also a representative of Tawasol, was appointed managing director.

Also on the board: Representing LimeVest on the board are Tarek Shawki (LinkedIn), Ahmed Abou-Hendia (LinkedIn), Dalia Elshal (LinkedIn), and Hesham Mekawi (LinkedIn), leaving LimeVest one spot on the board still to fill. Mohamed Abdel Mohsen is a representative for Tawasol, and Ayman Kandeel (LinkedIn) and Khaled Hegazy (LinkedIn) will act as independent board members.

The ownership breakdown: LimeVest acquired some 61% of Alex Medical in the transaction, it said (pdf) yesterday. That would hand some 9.2% to Tawasol, bringing its total holdings to 35.2% including its preexisting 26% stake.

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