The Egyptian American Enterprise Fund (EAEF) and Dawi clinics announced on Monday in a press conference, that the EAEF will inject $3m into Dawi’s medical base, describing it as a strategic step to support the growth of Egypt’s health sector.
Dawi is a chain of outpatient clinics that aims to introduce a new standard of health care services to the market, currently operating in 5 locations in Cairo, with plans to expand across the country.
They stated that closing of transactions is subject to the satisfaction of customary closing conditions. Meanwhile, Moharam Law Group and Nour & partners in association with Al Tamimi & Co served as advisors on the transaction. For his part, James A Harmon, chairperson of the EAEF said that “our partnership with Dawi Clinics will help us support the goals of a successful management team in growing their business.”
Furthermore, Magda Habib, CEO of Dawi Clinics said, “EAEF’s resources will be invaluable to us as we seek to grow our chain of clinics, as well as to innovate our medical services”. She noted that the focus of Dawi clinics currently includes providing exceptional patient experience, providing a comfortable working environment for the doctors, in addition to sticking to international standards. For her part, Mairose Doss, COO of Dawi Clinics, said that with the help of EAEF, Dawi Clinics looks forward to expanding its services across the country.
“Our partnership with Dawi Clinics will help us support the goals of a successful management team in growing their business,” Harmon said.
The EAEF is a private entity funded by the US government. Since the inception of the Enterprise Fund program, over $1.1bn has been invested directly alongside $6.9bn invested by private parallel funds. Notably, the EAEF’s primary mission is to simulate the Egyptian private sector by providing access to investment and human capital, modern technologies as well as best business practices, while achieving financial profitability.
To date, the EAEF has injected over $135m in Egypt. Meanwhile, Amal Enan, executive director of the EAEF, stated that Dawi’s focus is on best patient outcomes, and guidelines and ethical conduct are a crucial reason for the EAEF’s investment in Dawi.