Through its Ezdehar 2 mid-cap fund, the direct investment fund management company Ezdehar has purchased a minority interest in Yodawy, a medical technology company. The $10 million deal is worth doing.
Karim Khashaba, the CEO of Yodawy, stated that the company’s goal is to develop a healthcare platform that tackles the major issues facing the industry and enhances its standing in Egypt’s digital health space. In order to enhance patients’ access and experience, he continued, the organization collaborates with insurance companies and healthcare service providers.
About 35 health insurance and healthcare service providers, with contracts with over 800 businesses, 20 hospitals, and 30 clinics in the market, are served by Yodawy. Additionally, the business collaborates with 3,000 pharmacies in Egypt that offer services for both chronic and non-chronic illnesses. The company has filled over 6 million prescriptions since it was founded.
The funding will help Yodawy achieve its growth objectives, which include growing its clientele and offering technology-enabled prescription fulfillment services to add greater value to the healthcare services industry.
Amir El-Sharqy, General Manager of Ezdehar, said, “Yodawy has identified and seized an untapped opportunity in the prescription and delivery sector and has created a model that has proven effective in serving patients and healthcare providers in the market.”
In addition to a group of Egyptian investors from banks and other investment entities, Ezdehar’s investors also include several international organizations, including the European Bank for Reconstruction and Development, the European Investment Bank, the BAE Group, the Netherlands Development Bank, the International Finance Corporation, the Egyptian-American Enterprise Fund, and the Belgian Investment Company for Developing Countries.
