Rx Healthcare Management (RxHM), announced today that it has officially acquired leading Egyptian medical solutions provider United Pharma through Nutritius Investment Holdings, a special purpose vehicle set up for the acquisition. The transaction attracted significant interest from prominent Egyptian and Gulf investors, with proceeds being used to expand the company’s product offering to cover generic categories in underserved therapeutic areas and ramp up production for IV products.

RxHM is a private equity investment management firm set up to address the growing demand for high-quality healthcare products and services across Egypt, MENA and Africa. It invests in highly selective targets, with a clear growth trajectory across healthcare verticals, giving investors access to unique opportunities across the sector’s value chain.

“I am very pleased with this transaction, which marks RxHM’s first investment in the Egyptian pharmaceuticals space. The local healthcare sector is unique in that it offers both the potential for superior returns, as well as the opportunity to invest responsibly in a critical sector that will have measurable impact on the wider economy,” said Dr. Hatem El Gabaly, Chairman of RxHM. “United Pharma is very well positioned to play a leading role in covering the substantial deficit in the IV solutions and injectables market in Egypt, as well as the growing demand in neighboring markets,” he added.

United Pharma is Egypt’s leading player in the injectables space by installed capacity, with a total of three large-volume parenteral LVP lines, capable of producing c. 50 million units per year, and over 120 million units of small-volume injectables, in addition to a dialysis line aimed at covering the highly underserved kidney dialysis solutions segment. United Pharma has also an established track record of exports to key African and Middle East markets.

“United Pharma represents a strategic milestone for RxHM,” said Karim Moussa, Head of Asset Management and Private Equity at EFG Hermes. “There is very strong demand for medical solutions in Egypt and the wider MENA region. We are keen to invest in this sector and to help expand United Pharma’s offering over the coming years. We also look forward to raising and deploying more capital in this growing strategic sector in the near future.”

The transaction reflects the resilience of the Egyptian pharmaceutical market, which has consistently enjoyed double-digit growth over the past 10+ years as the biggest MENA healthcare sector. Coupled with the fact that investors continue to see Egypt as a safe haven in the emerging market space, the deal comes at an ideal time to capitalize on the strength of these fundamentals.