New Delhi, July 8 -- Africa-focused private equity firm Development Partners International (DPI) has entered into an agreement with Alameda Healthcare to invest $190 million for a minority stake in the Egyptian hospital company.
The transaction marks the largest healthcare investment of its kind in Egypt to date, DPI said in a statement on Monday.
The PE firm said it has invested in the company along with co-investors. It didn't specify who those co-investors were. Alameda Chairman Fahad Khater will retain his position as the majority shareholder.
The transaction is subjected to relevant regulatory and other approvals and is expected to close in the third quarter of 2025.
DPI, which manages assets and co-investments worth over $3 billion across three funds and is raising the largest PE vehicle in the continent with a target of $1 billion, said the new funding will accelerate Alameda's expansion both within Egypt and across the Gulf Cooperation Council (GCC) region. Alameda will use the proceeds of the investment to expand its footprint and capacity, invest in advanced technologies, and scale the Centers of Excellence.
"This investment will allow us to expand access to high-quality healthcare across Egypt, especially in underserved areas, while increasing our capacity to serve more patients. It also enables us to invest in training and development, helping to retain and attract top medical talent and reverse the brain drain of Egyptian doctors and nurses," Khater said.
Formed in 1999, Alameda is the largest hospital operator in Egypt with more than 1,000 beds. Its Centers of Excellence in specialized and sophisticated medical practices offer high-quality healthcare services.
It operates hospitals under two tertiary care brands: As-Salam International and Dar Al Fouad. It also runs seven polyclinics across Egypt, and gastroenterology and liver care centres under Elixir Gastro and Liver Care Center. The company also operates a physiotherapy and rehabilitation clinic, a home-based family healthcare service provider, as well as in-house diagnostic centers, medical laboratories, and pharmacies.
EFG Hermes acted as the exclusive M&A financial advisor on the transaction.
Published by HT Digital Content Services with permission from VC Circle.