The Sovereign Fund of Egypt (“TSFE”) through its healthcare and pharmaceutical industries Subfund (“TSFE Healthcare & Pharma Subfund”) and B Investments Holding S.A.E. (“B Investments”), BPE Partners’ flagship investment vehicle, are pleased to announce the signing of two agreements to invest over EGP 2 B in specialized healthcare, and pharmaceuticals distribution and trade services in Egypt.
The first agreement stipulates that TSFE commits to invest EGP 100 M in B Healthcare Investments S.A.E. (“BHI”). BHI was established by B Investments as its designated investment vehicle to invest in the Egyptian specialized healthcare sector with an initial focus on fertility, mother-and-child, and related services businesses. Currently, BHI owns 51% of the Egyptian IVF Center, the pioneer of in-vitro fertilization (“IVF”), and one of the leading fertility centers in Egypt and the MENA region.
BHI is targeting to raise up to EGP 1 B of which B Investments and TSFE have committed to invest EGP 200 and EGP 100 M, respectively, with the rest to be offered to local and regional private sector investors.
Through the second agreement, B Investments will invest in TSFE Healthcare & Pharma Subfund’s established investment platform dedicated to investing in pharmaceutical distribution and trade services.
The platform aims at enhancing efficiencies and injecting capital to support infrastructure upgrades required to institutionalize the sector. It will be partnering with local champions in the market to accelerate their growth into under-served cities in Egypt and across the region.
Furthermore, It will work on leveraging the latest technological solutions to provide a wide range of digital offerings that will lead to cost efficiencies, ensure market stability, and improve customer experience. A total of EGP 1.2 B will be deployed in the first phase with aspirations to grow even further as more investment opportunities arise.