Mediterrania Capital Partners takes a majority stake in Cairo Scan

EGYPT / SPAIN. The Mediterrania Capital Partners fund announces the acquisition of Cairo Scan Radiology and Labs S.A.E.. It is investing nearly $20m to take a majority stake in the capital of this Egyptian company (750 employees and non-communicable turnover) specialising in diagnostic and interventional medical imaging as well as analytical and medical analyses, which has sixteen centres located in Cairo and Giza.

Founded in 1983 by the Abd El-Wahab and El-Gabaly families, Cairo Scan will, thanks to this support, be able to expand its network of centres in the capital and also inaugurate a flagship centre to facilitate access to its services for a large part of the Egyptian population.

"The focus on healthcare and hygiene, coupled with a growing awareness of the need for preventive diagnostics and the development of new technologies that enable targeted treatments, are the main drivers of growth in the Egyptian market, which continues to show double-digit growth. Cairo Scan is well positioned to meet the growing market demand while continuing to provide the highest quality radiology and laboratory services in Egypt," commented Khaleb Saba, Senior Country Advisor for Egypt at Mediterrania Capital Partners.

Based in Barcelona and Malta, Mediterrania Capital Partners is acting through its third fund (MC III) in this transaction. MC III, like its predecessors, is dedicated to the growth of SMEs in North Africa and sub-Saharan Africa.