EGYPT – Tana Africa Capital, a pan-African private equity firm has submitted an offer to purchase a 25% stake in Mabaret Al Asafra Hospital Group through its second fund Tana Africa Capital II, based on the latter’s desire not to lose more than that percentage.
Dr. Amr Morsi, head of Mabarat Al Asafra Hospitals, did not deny the offer, but did not confirm it. He said, “We have been in negotiations with several investors for a long time and we have not signed any final or initial contracts.”
He said that the consultations with the entities wishing to purchase a stake in the group are still in the initial and initial stages and have not entered into force. Morsi said that in the event of a response to the entry of new investors, it would be by selling a minority stake, not a governor.
Last February, deals worth 433 million pounds were executed on 43.36 million shares of Al-Asafra Medical Center, Al-Asafra West Hospital and Al-Asafra Central Hospital.
Morsi said then that the deals are executed between the current shareholders of the group as part of the plan to rearrange the group and separate its financial departments.
“We have a desire to separate the management of each entity and to rearrange the situation among all 425 shareholders,” Morsi added.
The Asafra Mapperah was established in Alexandria in 1984 on an area of 8500 square meters, while the Asafra Mabra Hospital was established in 2011 in a total area of 3750 square meters, and the Asafra Mapperah was established in 2016.
The company has several contracts to provide health care with companies in the oil and banking sectors, sports clubs, insurance, government departments and unions, according to the group’s website. The group has 3 affiliated hospitals in Alexandria with a capacity of more than 300 beds, and the chain of “Maabara” laboratories owns the Asafra.