BPI Partners’ BPI Healthcare platform acquired 51% of the Egyptian IVF Centre as part of the recently established platform’s first transaction.
Sources told Daily News Egypt that the value of the deal exceeded EGP 110.681m, adding that the office of Zaki Hashem and Partners assumed the role of legal adviser to the acquiring company and the office of Ziad Bahaa Al-Din Law Firm for the Egyptian Centre. Meanwhile, the financial group played the role of the deal broker.
B Investment Holding established B Healthcare with a licensed capital of EGP 1bn to invest in promising Egyptian companies in the field of specialised healthcare.
For its part, B Investment Holding announced that its subsidiary — B Healthcare — signed an agreement to acquire 51% of the capital of the Egyptian Modern Specialized Centre for Infertility and IVF Treatment, marking the company’s first investment in the field of health care.
The company added that the necessary approvals from the Ministry of Health and Population and the concerned authorities are being met, and executive steps are being taken with the Egyptian Exchange to complete the acquisition process.
Sources also confirmed that the company is looking at a number of investment opportunities in the field of fertility and reproductive health and that there are between two to three investment opportunities that are being studied, as BP’s strategy for healthcare is based on acquiring controlling shares of investment opportunities.