Concord to target Egypt’s healthcare sector: US-based, Egypt-focused asset manager Concord International Investments plans to establish a USD 40 mn company to invest in the country’s healthcare sector, Chairman Mohamed Younes told Asharq Business in an interview. The company will deploy funds in feeder industries for the healthcare sector, such as the production of medical equipment and supplies, he said, adding that it will begin raising capital from local and global investors starting the second half of the year.

The company has been involved in Egypt’s healthcare sector for years: Concord was part of a consortium that acquired 98% of Amoun Pharma for USD 500 mn back in 2007, a transaction which the company describes as one of the largest private-equity transactions ever in Egypt.

Concord is the second private-equity player to signal healthcare investment in recent weeks: B Investments and the Sovereign Fund of Egypt announced a partnership last month that could channel more than EGP 2 bn into the local healthcare and pharma sectors. Concord and the SFE had signed a MoU of their own back in 2020 to manage a USD 300 mn healthcare fund though nothing has been heard since.

And that’s not all, folks: Concord plans to establish a new stock fund and another to invest in bonds this year to capitalize on the current bull run on the EGX and higher interest rates, Younes said.