Rx Healthcare Management (RxHM), a private equity investment management owned by EFG Holding Group, is studying several opportunities to acquire pharmaceutical companies, sources close to the matter told Daily News Egypt.
Rx Healthcare Management is especially scouting for highly promising opportunities in different generic pharma segments in Egypt and the GCC.
The sources added that the platform has reached advanced stages in the acquisition process, and aims to close between one or two deals during the current year, with the aim of benefiting from the growth of the sector, in parallel with the process of developing the business of its subsidiary, United Pharma, which it acquired earlier.
In 2019, Rx Healthcare Management acquired about 80% of the shares of United Pharma for EGP 360m.
The sources confirmed that United Pharma aims to develop a group of new products that it will launch at the end of this year or early next year, explaining that it is currently in the stage of research and development.
The source stated that the company achieved an increase in its revenues by up to 31% during the first half of this year after it was able to lead the life-saving IV solutions market in the second quarter of 2023, which covers the widening market gap in this sector.
The profits of EFG Holding Group (formerly known as EFG-Hermes Holding) increased by 66.4% during the first half of this year, to reach EGP 1.49bn, compared to a profit of EGP 895m in the comparative period of 2022.
The company’s revenues increased during the first six months of this year to reach EGP 7.53bn, compared to revenues of EGP 3.98bn in the comparative period of last year.