Our friends at Development Partners International (DPI) finalized their USD190 mn minority stake investment in Fahad Khater’s Alameda Healthcare, marking the largest private equity transaction in Egypt’s healthcare sector to date, EFG Hermes, the transaction’s financial advisor, said in a statement (pdf).

The details: The transaction, primarily a capital increase, was made through DPI’s fourth fund alongside a consortium of institutional investors and development finance institutions. DPI Partner Ziad Abaza, a longtime friend of EnterpriseAM, led the transaction, which keeps Khater, Alameda’s chairman, as the majority shareholder.

Why it matters: The investment gives Alameda gear to take its clinical model to Saudi Arabia and the UAE, where plans are in the final stages and a formal announcement is expected later this year. At home, Alameda will double down on hospital and clinical capacity and upgrade medical technologies and services across its list of household brands, including As-Salam International and Dar Al Fouad hospitals, the German Rehabilitation Center, and Tabibi 24/7, among others.

REMEMBER- Alameda has previously announced plans to invest USD 250 mn by 2028, along with adding 600 beds in three new hospitals and expanding in Saudi Arabia.

Alameda has accelerated its expansion strategy since announcing the agreement back in July, acquiring a majority stake in an Egyptian ophthalmology group and expanding into Sub-Saharan Africa by opening its first clinic in Kenya. It also unveiled a multi-year partnership with Houston Methodist in the US to enhance care standards at New Cairo’s Madinaty Hospital, and it is nearing an enterprise-wide affiliation with Guy’s and St Thomas’ in the UK.

What else is in the pipeline? “Local expansion projects include increasing capacity and number of beds in existing facilities, completion of new ongoing projects (mainly Madinaty Hospital), funding capex in existing assets, as well as a number of new greenfield and brownfield ventures that are currently being assessed by the management,” a DPI spokesperson tells us.

DPI has big plans for Egypt: London-based DPI has so far contributed over USD 1 bn out of its total assets under management to investments in Egyptian markets, DPI Venture Capital General Partner Mohamed Aladdin has previously told us. The private equity giant is currently building a pipeline of potential investments in Egypt across high-growth sectors, including manufacturing, fintech, financial services, FMCG, retail, and healthcare, a DPI executive has previously told us.

“Egypt remains a key market for us,” the spokesperson said. DPI is closely watching several sectors that show high growth potential, they added, explaining that the firm sees strong momentum from entrepreneurial founders and management teams who are ready to scale. “We’re always looking for the right long-term partners.”

ADVISORS- Our friends at EFG Hermes Investment Banking were the sole M&A financial advisors on the transaction. Addleshaw Goddard served as international counsel to Alameda Healthcare, with ALC Alieldean Weshahi & Partners and Matouk Bassiouny & Hennawy providing local juridical support. White & Case acted as both international and local counsel to DPI, whose advisory consortium also included PwC, Debevoise & Plimpton, and Rothschild.

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