Ezdehar, an Egyptian private equity firm, has secured a minority stake in Yodawy, an Egyptian healthtech startup. The investment, amounting to $10 million, was facilitated through the Ezdehar Mid-Cap Fund II.
This fund is supported by various entities, including the European Bank for Reconstruction and Development, the European Investment Bank, the British International Investment, the Dutch Entrepreneurial Development Bank, the International Financing Corporation (IFC), Egyptian American Enterprise Fund, and the Belgian Investment Company for Developing Countries, along with a group of Egyptian investors.
Ezdehar’s investment in Yodawy aims to bolster the healthtech startup’s growth initiatives, with a focus on expanding its customer base and enhancing its technology-driven fulfillment capabilities.
Egypt holds the distinction of being the largest pharmaceutical producer in North Africa and the Middle East, projecting a market value of $6 billion last year. Private entities like Yodawy have played a pivotal role in addressing gaps in pharmaceutical delivery left by public institutions.
Yodawy’s co-founder and CEO, Karim Khashaba, highlighted the company’s achievements in building a healthcare platform to address fundamental challenges in the sector. He emphasized Yodawy’s position as the leading digital pharma powerhouse in Egypt, serving as the preferred partner for payers and providers. Khashaba expressed the critical role of Ezdehar’s funding and partnership in driving change, reducing healthcare costs, and facilitating patient access to services.
Yodawy currently serves approximately 35 health insurance and healthcare service companies, holding contracts with over 800 companies, 20 hospitals, and 30 clinics in the market. The company has partnerships with 3,000 pharmacies offering services for both chronic and non-chronic conditions across Egypt. Since 2018, Yodawy has successfully delivered over six million prescriptions.
Amir El-Sharqy, the General Manager of Ezdehar, acknowledged Yodawy’s effective model in the prescription and delivery sector. He emphasized how Yodawy identified and seized an untapped opportunity, providing valuable services to both patients and healthcare providers in the market.
Source: Benjamindada