ABN – Abraaj Group has announced the formation of the North Africa Hospital Holdings Group (NAHHG).
NAHHG will become an investment platform to improve the quality and accessibility of healthcare in Egypt and Tunisia.
Abraaj Group will invest US$145 million into the fund and EBRD will make a $25 million investment while DEG and Proparco will provide $15 million each.
Ahmed Badreldin, Abraaj Group head of Middle East and North Africa, said: “Our investment in the North Africa Hospital Holdings Group is based on our capacity to bring our deep global experience in healthcare to markets that need and stand to benefit the most from them.
“Over the past six months, we have set in place several initiatives in each hospital, including soft skills training for staff, upgrading ER and radiology facilities, establishing global governance standards, improving medical services offerings and hiring skilled physicians.
“By expanding the healthcare platform across North Africa, we are confident in raising the standard for quality and affordable healthcare in the region.”