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RxHM acquires majority stake in Egypt's United Pharma The deal, which garnered significant interest from key Egyptian and GCC investors, marks Rx Healthcare Management's first transaction in the Egyptian pharmaceuticals space
Rx Healthcare Management (RxHM), has officially acquired leading Egyptian medical solutions provider United Pharma through Nutritius Investment Holdings, a special purpose vehicle set up for the company's acquisition, the company announced on Tuesday. The transaction attracted significant interest from prominent Egyptian and Gulf investors, with proceeds being used to expand the company's product offering to cover generic categories in underserved therapeutic areas and ramp up production for IV products. "I am very pleased with this transaction, which marks RxHM's first investment in the Egyptian pharmaceuticals space. The local healthcare sector is unique in that it offers both the potential for superior returns, as well as the opportunity to invest responsibly in a critical sector that will have measurable impact on the wider economy," said Hatem El Gabaly, RxHM's chairperson. "United Pharma is very well positioned to play a leading role in covering the substantial deficit in the IV solutions and injectables market in Egypt, as well as the growing demand in neighbouring markets," he added. RxHM is a private equity investment management firm set up to address the growing demand for high-quality healthcare products and services across Egypt, MENA, and Africa. It invests in highly selective targets, with a clear growth trajectory across healthcare verticals, giving investors access to unique opportunities across the sector's value chain. United Pharma is Egypt's leading player in the injectables space by installed capacity, with a total of three large-volume parenteral (LVP) lines, capable of producing 50 million units per year, and over 120 million units of small-volume injectables, in addition to a dialysis line aimed at covering the highly underserved kidney dialysis solutions segment. United Pharma also has an established track record of exports to key African and Middle East markets. "United Pharma represents a strategic milestone for RxHM," said Karim Moussa, head of Asset Management and Private Equity at EFG Hermes. "There is very strong demand for medical solutions in Egypt and the wider MENA region. We are keen to invest in this sector and to help expand United Pharma's offering over the coming years. We also look forward to raising and deploying more capital in this growing strategic sector in the near future."
