Misr Capital has announced that it is set to launch a $380m healthcare investment platform, Nile Misr Scan & Labs. The group will be looking to raise $150m before the first closing in Q1 2022, after seeding initial investments from Banque Misr’s cash commitment and Elevate Private Equity’s in-kind contribution to the platform.
The platform, Nile Misr Healthcare, is structured on the strong investment and medical expertise of the two partners. Misr’s cash commitment and Elevate Private Equity will be responsible for the platform’s strong potential across healthcare verticals spanning hospitals, diagnostic facilities, pharmaceuticals, medical education, and digital medical services among others in Egypt and Sub-Saharan Africa.
Akef El Maghraby, Chairman of Misr Capital and Vice Chairman at Banque Misr speaking on the partnership said that reasonable investments are a priority for Misr Capital’s, especially in sectors like healthcare that contribute to the society in which we operate.
“Investing in healthcare not only adds positive, the real value to the society, but also comes in line with SDG 3 of the UN’s sustainable development goals and the United Nation’s Principles of Responsible Investments,” said Maghraby.
“This partnership leverages the technical and strategic expertise of Elevate Private Equity with Misr Capital’s renowned financial and investment track record; effectually forming a platform that will actively pursue M&A transactions in the highly fragmented healthcare spaces across our targeted jurisdictions. Our long-term strategy is to establish larger, consolidated entities that provide comprehensive, world-class healthcare to larger populations across Egypt and Sub-Saharan Africa, in addition to creating a positive impact on the wider economies while delivering superior returns to investors,” he said.
The platform is expected to enter its first sale and purchase agreement (SPA) within weeks of the completion of all necessary approvals.
Ernst & Young Egypt acted as the financial and tax advisor and Alliance Law Firm and Al Kamel Law Firm as the legal advisors to Misr Capital.
