The Egyptian-American Enterprise Fund will inject US$3 million into Dawi Clinics, a strategic step taken by the two entities to support the growth of Egypt’s healthcare sector, a press release by the fund said.
“Our partnership with Dawi Clinics will help us support the goals of a successful management team in growing their business,” said James A. Harmon, chairman of the fund.
“Egypt is a 100+ million population, 45 percent of which is urban with growing needs for healthcare services,” he added.
Dawi, a chain of outpatient clinics, currently operates five locations in Cairo, with plans to expand across the country.
“It is our priority to support women empowerment in Egypt, especially talented women entrepreneurs looking to make a difference in the community,” said Amal Enan, executive director of the fund.
“We are privileged that the Egyptian-American Enterprise Fund has chosen Dawi Clinics as a long-term partner and shares our vision to support the development of the Egyptian healthcare sector. Our core values revolve around our patients – we aim to offer affordable, value-based healthcare for the entire country, and to continue to support a growing population. EAEF’s resources will be invaluable to us as we seek to grow our chain of clinics, as well as continue to innovate our medical services,” said Magda Habib, chief executive officer of Dawi Clinics.
EAEF is a private equity and venture capital firm, founded in 2013.
The press release notes its primary mission is “to stimulate the Egyptian private sector by providing access to investment and human capital, modern technologies as well as best business practices, while achieving financial profitability.”