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PRESS RELEASE: 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…

The post PRESS RELEASE: Tana Africa Capital acquires a minority investment into Mabaret Al Asafra, a leading healthcare group in Egypt appeared first on SAVCA.

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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.

About Tana
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.

About AHI
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.

Source: https://savca.co.za/press-release-tana-africa-capital-acquires-a-minority-investment-into-mabaret-al-asafra-a-leading-healthcare-group-in-egypt/industry-news/

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Source: https://www.leapfunder.com/companies/237

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iCapital Network celebrates reaching milestones in its European and Asian expansion efforts

From: FinTech Global Alternative investment FinTech iCapital Network is celebrating reaching a series of milestones in its expansion into the European and Asian markets. The WealthTech platform is created to drive access and efficiency in alternative investing for the asset and wealth management industries. The growth across the European and Asian markets comes hot on […]

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From: FinTech Global
Alternative investment FinTech iCapital Network is celebrating reaching a series of milestones in i

Source: https://www.altassets.net/private-equity-news/by-news-type/people-news/icapital-network-celebrates-reaching-milestones-in-its-european-and-asian-expansion-efforts.html

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Medtech venture investment continues climb globally

Investors pumped $5.05bn into start-ups in growing fields such as surgical robotics, telehealth and cancer blood testing in the third quarter

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Global venture capital funding of medical technology continued its climb last quarter, with investors pumping $5.05bn into start-ups in growing fields such as surgical robotics, telehealth and cancer blood testing, industry data show.

Third-quarter venture investment rose about 4.7% from the $4.83bn that medtech start-ups raised in the second quarter, and by more than 63% from the $3.09bn they secured in the third quarter of 2019, according to data from market tracker CB Insights.

Venture funding jumped despite the novel coronavirus pandemic, which forced hospitals to postpone elective surgeries and hamstrung some companies that had been seeking to launch their products.

Yet many companies raising venture capital this year are still developing their technology and haven’t been affected by the slowdown, said CB analyst Marissa Schlueter.

Investors also haven’t let the pandemic dissuade them from betting on the potential of robotics to improve surgery and on new blood tests that could enable earlier cancer detection. In August, for example, San Francisco-based Freenome Holdings collected $270m to pursue regulatory approval for a blood test to detect colorectal cancer and Massachusetts-based Vicarious Surgical, which applies virtual reality and robotics to minimally invasive surgery, took in $13.2m.

Some medtech start-ups have fielded rising interest in their technology during the pandemic, including telehealth companies and those with tests or devices that can combat the new virus.

This month, for example, telehealth concern 98point6, a provider of virtual primary care services based in Seattle, disclosed a $118m financing.
CB Insights considered a variety of medical technology companies in its analysis, including those seeking to diagnose, treat, monitor or prevent diseases.

A strengthening market for medtech initial public offerings and acquisitions also is encouraging venture investment. In the third quarter, 40 medtech companies were acquired and 14 went public, according to CB Insights. That is up from 37 acquisitions and 13 IPOs in the second quarter. In the third quarter of 2019, 28 companies were acquired and 15 went public.
Companies’ ability to raise venture capital enables them to remain private longer and put themselves in a stronger position for an IPO, said Tom Shehab, a managing partner with Arboretum Ventures.

California-based Eargo, which sells hearing aids that fit inside the ear, incorporated in 2010 and began operations in late 2012. On Friday, 16 October, the company, which has raised more than $206.6m in venture capital according to Crunchbase, went public at $18 a share. The stock leapt 87.1% to close at $33.68.

Eargo posted $28.6m in net revenue for the six months ended 30 June, nearly doubling the $14.4m in net revenue it reported for the same period of 2019, according to a regulatory filing.
In the company’s early days, relatively few venture firms focused on medtech, chief executive Christian Gormsen said. But in raising the company’s most recent venture round earlier this year, he spoke with about 100 investors, he said.

Eargo, which sells hearing aids directly to patients, fits a growing trend toward consumers playing a larger role in their healthcare, which also increased its appeal to investors, he said. “Medical technology as a category is getting more and more attention from venture capital,” Gormsen said.

From The Wall Street Journal

Source: https://www.penews.com/articles/medtech-venture-investment-continues-climb-globally-20201027

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