Dawi Clinics raises funding for expansion in Egypt
Dawi Clinics, the largest chain of outpatient care in Egypt, has raised EGP 250 million (c. $8.1 million) to fund the growth of its chain of clinics across the Egyptian market by opening 30 new branches.
The investment round is led by Al Ahly Capital Holding (ACH), the local investment arm of the National Bank of Egypt (NBE) with a co-investment by the Egyptian-American Enterprise Fund (EAEF), a US Congressionally-supported investment fund, and already invested in Dawi.
Dawi Clinics, which is currently operating 20 branches across 10 governorates, offers coordinated family care provided by more than 260 doctors across multiple specialties. In 2022, Dawi offered its services to more than 120,000 patients across the country.
“We are pleased to partner with the founders of Dawi, a company which has impressively grown over the past years with strong and dynamic management. We believe that this investment complements and fits well with the mission statement and growth strategy of our healthcare platform, providing high quality affordable healthcare services across the country. We look forward to continuing to expand in Dawi and our healthcare platform hand in hand,” commented Karim Saada, managing director of ACH.
On his part, EAEF’s chairman James Harmin noted, “We are excited to support Dawi Clinics in its next stage of growth. Founded and led by two prominent women entrepreneurs, Dawi is revolutionising Egypt’s healthcare market by offering consumers a comprehensive offering of health services through its primary care clinics. We look forward to supporting Dawi in the years ahead as it delivers on its mission to provide quality, affordable healthcare to consumers across Egypt.”
“Securing new investments amid ongoing local and global economic challenges is a testimony to the value inherent in the Egyptian market, particularly in the healthcare sector and more specifically in the ability of Dawi Clinics to unlock this value and deliver superior returns,” said Magda Habib, co-founder and CEO of Dawi Clinics.
ACH was represented in the investment round by MHR & Partners in association with White&Case. EAEF was represented by Nour & Partners in association with Al Tamimi & Company. Dawi was represented by Ibrachy Legal Consultancy (I&P).