{"id":564634,"date":"2021-02-17T14:02:32","date_gmt":"2021-02-17T14:02:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/strong-with-the-force-healthcare-mas-are\/"},"modified":"2021-02-17T14:02:32","modified_gmt":"2021-02-17T14:02:32","slug":"strong-with-the-force-healthcare-mas-are","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/strong-with-the-force-healthcare-mas-are\/","title":{"rendered":"Strong with the force, healthcare M&As are"},"content":{"rendered":"

<\/a> The latest M&A activity in the red-hot healthcare sector appears to be a bidding war <\/strong>brewing for Alexandria Medical Services.<\/strong> Tawasol Holdings is looking to get full ownership of Alexandria Medical Services by snapping up the 74.08% stake it doesn't already own, according to a bourse filing (pdf)<\/a> by Alex Medical. Tawasol, which currently holds a 25.92% stake, is apparently a buyer at EGP 38.09 per share.<\/p>\n

Abu Dhabi Commercial Bank\u2019s (ADCB), which has a 51.5% stake in Alex Medical, had <\/strong>also <\/strong>received an offer<\/a><\/strong> from a consortium<\/strong> made up of Mabaret Al Asafra Hospitals and Africa-focused investment firm Tana Africa Capital to acquire its full stake in the company. Separately, Egyptian-British entrepreneur Tamer Abdullah was reported in December<\/a> to be looking to increase his 9.8% stake in Alex Medical. It\u2019s unclear whether Abdullah is connected with Tawasol Holdings.<\/p>\n

Speaking of which, Speed Medical (SPMD) has pretty much confirmed today that it is <\/strong>seeking an ownership stake<\/a><\/strong> in Prime Speed <\/strong>in a bourse disclosure (pdf)<\/a> that outlines its stakes in Prime Speed\u2019s subsidiary Misr Laboratories<\/a>. SPMD noted that its potential acquisition of \u201ca majority stake\u201d in Prime Speed, would give it an effective ownership stake of 60% in Misr Labs, implying that it is seeking full control of Prime Speed. Zaki Hashem and Partners were chosen to act as legal advisor on the transaction.<\/p>\n

Meanwhile, Hikma Pharma has appointed EFG Hermes<\/strong> as its financial advisor<\/strong> and Sharkawy <\/strong>& Sarhan<\/strong> as counsel<\/strong> ahead of its potential acquisition of GlaxoSmithKline\u2019s Egypt assets, Hapi Journal<\/a> reported this morning. The LSE-listed company last month signed a non-binding agreement<\/a> with GSK to enter into talks to acquire a 91.2% stake in its pharma and manufacturing business in Egypt. GSK rejected<\/a> rival bids by Rameda Pharma and Acdima last week.<\/p>\n

IN OTHER M&A NEWS-<\/strong><\/p>\n

Ezdehar is still looking to exit two high-growth companies in 2021 <\/strong>as it inches closer to the launch of its new USD 200 mn fund, the fund\u2019s managing director Emad Barsoum told the local press<\/a>. The unnamed companies Ezdehar will be offloading in the coming year are delivering annual top line growth of 30-40% each year, Barsoum said. As a private equity player, Ezdehar typically has a 3-5 year holding period for its investments.<\/p>\n

Background:<\/strong> Ezdehar said last October<\/a> it was moving toward exits from three investments and went on to sell its full 22.5% stake in loyalty services provider Dsquares to Lorax Capital Partners<\/a>. The news came as the private equity outfit prepared to hit the road to raise a new USD 200 mn fund<\/a>that will target medium-sized companies operating in manufacturing, services, education, healthcare, non-banking financial services worth USD 10-30 mn per transaction. Barsoum said last fall that he expected the second and final close on the fund to come this<\/strong> year.<\/p>\n

CORRECTION- 18 February 2021: An earlier version of this story incorrectly stated that Tawasol is looking to raise its stake in Alexandria Medical Services to 74.08%.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The latest M&A activity in the red-hot healthcare sector appears to be a bidding war brewing for Alexandria Medical Services. Tawasol Holdings is looking to get full ownership of Alexandria Medical Services by snapping up the 74.08% stake it doesn't already own, according to a bourse filing (pdf) by Alex Medical. Tawasol, which currently holds […]<\/p>\n","protected":false},"author":1,"featured_media":564635,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[2336,84,3529,633,762,1076,7115,575,4053,7128,758,4178,551],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-alexandria-medical-services","tag-efg-hermes","tag-emad-barsoum","tag-enterprisepm","tag-ezdehar","tag-glaxosmithkline","tag-healthcare","tag-hikma-pharma","tag-lorax-capital-partners","tag-ma-watch","tag-private-equity","tag-sharkawy-sarhan","tag-speed-medical","wpautop","entry"],"acf":{"mongo_id":"da0d6b7d-f168-4ce8-9ab7-fc3e80efa7d2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/467.jpg","photo_position":"above","related_issue":[564630],"teaser":"","voice_url":""},"yoast_head":"\nStrong with the force, healthcare M&As are - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/strong-with-the-force-healthcare-mas-are\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strong with the force, healthcare M&As are\" \/>\n<meta property=\"og:description\" content=\"The latest M&A activity in the red-hot healthcare sector appears to be a bidding war brewing for Alexandria Medical Services. 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The\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/518.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565509,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/13\/its-official-chg-wants-alex-medical\/","url_meta":{"origin":564634,"position":2},"title":"It\u2019s official: CHG wants Alex Medical","author":"enterpriseam admin","date":"13 April 2021","format":false,"excerpt":"Cleopatra Hospitals has confirmed it\u2019s in the race for a stake in Alex Medical: EGX-listed Cleopatra Hospitals Group (CHG) has submitted a non-binding letter of intent to acquire Abu Dhabi Commercial Bank\u2019s (ADCB) 51.5% stake in Alexandria Medical Services, it said in a regulatory filing (pdf) this morning. CHG submitted\u2026","rel":"","context":"In "SPEED ROUND:M&A WATCH"","block_context":{"text":"SPEED ROUND:M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-roundma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563190,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/tawasol-limevest-make-their-move-for-alex-medical\/","url_meta":{"origin":564634,"position":3},"title":"Tawasol, LimeVest make their move for Alex Medical","author":"enterpriseam admin","date":"22 June 2021","format":false,"excerpt":"Tawasol-LimeVest consortium launches Alex Medical takeover bid: A consortium of Tawasol Holdings and LimeVest affiliate Maternity and Pediatrics Holding has made its move in the race for Alexandria Medical Services, submitting a bid that values the company at more than EGP 740 mn. The companies have submitted a request to\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/279.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565627,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/20\/its-official-4-investors-are-in-the-bidding-war-for-alex-medical\/","url_meta":{"origin":564634,"position":4},"title":"It\u2019s official: 4 investors are in the bidding war for Alex Medical","author":"enterpriseam admin","date":"20 April 2021","format":false,"excerpt":"Healthcare investment firm Seha Capital is the latest to throw its hat in the ring for Alexandria Medical Services as Abu Dhabi Commercial Bank(ADCB) looks to offload its 51.54% stake, Alex Medical said in an EGX disclosure (pdf).The company is now officially being courted by four bidders: EGX-listed Cleopatra Hospitals\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549033,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/31\/could-the-alex-medical-acquisition-finally-go-through\/","url_meta":{"origin":564634,"position":5},"title":"Could the Alex Medical acquisition finally go through?","author":"enterpriseam admin","date":"31 August 2022","format":false,"excerpt":"Alex Medical is back in play: The Financial Regulatory Authority (FRA) has approved a mandatory tender offer (MTO) from the Tawasol Holdings-LimeVest consortium to purchase up to 74% of Alexandria Medical Services, bringing back to life a play for the healthcare provider that we\u2019d heard nothing on since last summer.\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/448.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=564634"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564634\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564635"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564634"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564634"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}