Tana Africa Capital acquires a minority investment into Mabaret Al Asafra, a leading healthcare group in Egypt
Tana Africa Capital (“Tana”), a leading Pan-African private equity firm, is pleased to announce the latest investment through its second fund Tana Africa Capital II (“TAC II”) into Mabaret Al Asafra (“Mabaret”) a leading hospital operator in Alexandria, Egypt. The investment was made directly into Alexandria for Healthcare Investments (“AHI”), that owns the majority stake in the Mabaret hospitals and laboratory.
Since its founding in 1982 Mabaret has become well known in the market, with a reputation for high quality medical care at affordable prices. Mabaret currently operates two hospitals and a laboratory business in Alexandria and will launch a new hospital in central Alexandria in the second half of 2020, increasing the total beds to over 400.
Tana as an active and long-term investor forms a partnership with the highly experienced operator AHI, backed by a strong management team, in a business with exceptional growth potential, and will work to realise the company’s long-term vision of becoming one of the leading healthcare groups in Egypt.
Mark Tindall, Managing Director at Tana, commented: “We are excited to partner with Dr Morsi and his team at Mabaret Al Asafra to build an exceptional healthcare business in Egypt; one which makes high quality healthcare accessible to many people. This business has a strong management team, exciting growth prospects and the potential to impact people’s lives for the better in the broader community. It has all the hallmarks of a compelling investment for Tana.’’
Pieter Cilliers, Principal at Tana, commented: “Mabaret established over the last 35+ years a strong brand and reputation for high quality healthcare. We believe that there is a substantial opportunity for growth in Alexandria, the Delta and the broader Egyptian healthcare market. The experienced management team has built a stable and scalable business and operating model, with a proven track record of success. Given the existing expansion plans, combined with future market opportunities, we believe that Mabaret is poised for significant growth in the coming years”.
Dr Amr Morsi, Mabaret Founder and Chairman also commented: “I am delighted to partner with Tana for the next phase of Mabaret’s growth as we work to achieve the full potential of the business. Our aim is to scale the business and stay true to our founding objective of bringing quality medical care to the broader Egyptian public. I am excited to have found a partner focused on supporting us by investing in our strategy and people, enabling us to continue to deliver outstanding healthcare services to our patients. I also look forward to future partnership ventures with Tana through our healthcare investment company AHI”.
AHI was advised by the Multiples Group, Zilla Capital and TMS Legal, while Tana was advised by Matouk Bassiouny, PwC and GLG.
Tana Africa is an Africa-focused investment company with US$400 million in AUM. Tana is owned by the Oppenheimer Family and Temasek Holdings (“Temasek”). Since inception in 2011, Tana has invested in a portfolio spanning the FMCG, retail, education and agribusiness sectors with operations in more than 20 countries across the African continent. Tana is managed by a team of 12 investment professionals from offices in Johannesburg, South Africa and Abidjan, Ivory Coast.
Mabaret Al Asafra hospital group (“Mabaret”) was founded in 1982 by Dr Amr Morsi in Alexandria. The main hospital, Mabaret Al Asafra East was started as a clinic and gradually grew to become a fully integrated hospital. In 2010, the group opened its second hospital in Alexandria West. The hospital group has a strong reputation for high quality medical services at affordable prices. The hospitals also include a Laboratory business, Mabaret Asafra Labs, serving both retail clients and other labs across 7 branches in prime locations in Alexandria.