Misr Ins. wants all of Misr Healthcare: Misr Ins. Holding is in talks to acquire a 20% stake in third-party claims management outfit Misr Healthcare Network held by the UAE’s Global Capital Investments, sources with first-hand knowledge of the matter told Enterprise yesterday. The acquisition will make Misr Ins. Holding the sole shareholder in Misr Healthcare.

Misr Ins. recently became a majority shareholder in Misr Healthcare: Misr Ins. Holding subsidiaries Misr Ins. and Misr Life Ins. acquired American Global Benefit Group’s 40% stake in Misr Healthcare last summer for EGP 5 mn, the sources said. The acquisition pushed Misr Ins.’ stake in the company from 40% to 80%.

The fluctuating EGP is proving to be an obstacle: Recent exchange rate volatility triggered by the central bank’s move towards flexibility against the USD has made it difficult to wrap up the transaction, our sources said.

We were expecting the acquisition to be finalized in the first week of January. Former company chairman Basel El Hini previously told Enterprise that Misr Ins. Holding was hoping to close the acquisition of an unnamed healthcare third-party administrator before early January.

About Misr Healthcare: Misr Healthcare helps streamline admin processes and cut expenses and costs at companies including Misr Ins., Misr Life Ins., and Delta Ins. The company currently serves over 70k clients, collecting EGP 700 mn in ins. premiums each year.