Ezdehar acquires $10M minority stake in Yodawy
Updated 1/16/2024 9:06:00 AM
Arab Finance: Local private equity firm Ezdehar has acquired a minority stake in Egypt-based pharmacy benefits management platform Yodawy in a deal worth $10 million through its Ezdehar Mid-Cap Fund II, as per a press release.
Ezdehar Mid-Cap Fund II boasts contributions from various international institutions, including the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), The British International Investment (BII), the Dutch Entrepreneurial Development Bank (FMO), the International Financing Corporation (IFC), Egyptian American Enterprise Fund (EAEF), and the Belgian Investment Company for Developing Countries (BIO).
Additionally, a group of Egyptian investors, including banks and other investment institutions, joined forces to support this venture.
Founded in 2018, Yodawy provides the technology for doctors to generate e-prescriptions, enabling insurance companies to automate real-time approvals, and ensuring timely delivery of medications to patients' doorsteps.
The pharmaceutical platform has integrated with top health insurance providers and currently caters to 35 payers, over 800 corporates, 20 hospitals, and more than 30 clinics in the market.
With a network of 3,000 pharmacies nationwide, the company serves both chronic and acute patients and has processed over 6 million prescriptions since its inception.
Ezdehar's significant capital injection into Yodawy will be directed towards supporting the company's growth plans.
This includes expanding its client base and enhancing tech-enabled prescription fulfillment capabilities.
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