Ezdehar, Egypt-based investment fund management company has acquired a minority stake in the Egyptian healthtech Yodawy for $10 million.
Founded in 2018 by Karim Khashaba, Yasser Abdel Gawad, and Sherief El-Feky, Yodawi offers a marketplace where patients can process prescriptions and place an online order for medicines. Yodawy also connects patients to medical labs and insurance companies.
Yodawy’s CEO, Karim Khashaba, said that his company aims to build a healthcare platform that addresses the main challenges in the sector and strengthens its position in the digital health field in Egypt. He added that the company works with insurance companies and healthcare service providers to improve patients’ access and experience
Yodawy serves about 35 health insurance and healthcare service companies, which have contracts with more than 800 companies, 20 hospitals, and 30 clinics in the market. The company also partners with 3,000 pharmacies that provide services for chronic and non-chronic conditions across Egypt. Since its establishment, the company has delivered more than 6 million prescriptions.
The investment will support Yodawy’s growth plans, which include expanding its customer base and technology-enabled prescription fulfilment capabilities and creating more value in the healthcare services market.
Amir El-Sharqy, General Manager of Ezdehar, said: “Yodawy has identified and seized an untapped opportunity in the prescription and delivery sector and has created a model that has proven effective in serving patients and healthcare providers in the market.”
Ezdehar’s investors include a group of international institutions, such as the European Bank for Reconstruction and Development, The European Investment Bank, The BAE Group, The Netherlands Development Bank, The International Finance Corporation, The Egyptian-American Enterprise Fund, and The Belgian Investment Company for Developing Countries, as well as a group of Egyptian investors from banks and other investment entities.
Source: techmoran.com
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