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Supporting a health player in the Middle East

Project

Healthcare
Signature date
Location
Saudi Arabia, Jordan, Multi-Country Mediterranean and the middle East, Egypt
Financing tool
Equity investment
Financing amount (Euro)
17800000
Financing details
USD 20m equity invesment
Customer
MC III SCAN
Type of customer
Company
Country of headquarters
Egypt
Project number
PZZ1456
Environmental and social ranking
A
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This information is given at the time of signature, without prejudice to any developments in the operation/project.

Proparco is supporting the development of a major regional player in the health sector in the Middle East via a EUR 17.8m (USD 20m) equity investment. The objective is to support the growth of testing laboratory services, open new radiology centers and allow a diversification towards other healthcare services.

Client presentation

MetaMed is one of the leaders in medical imaging services in the MENA region, with a presence in Egypt, Jordan and Saudi Arabia. It has 27 radiology centers offering all the imaging services (MRI, scanner, X-rays, etc.). In 2015, the company diversified its activity by launching a testing laboratory activity in Egypt.

Project description

The project involves supporting the development of a major regional player by opening new radiology centers, assisting the growth of testing laboratory services and allowing a diversification towards other healthcare services that are still not widely available in the countries covered.

Project impact

This project has significant expected impacts in terms of contributing to the development of the health sector and to economic growth:

  • The access to medical imaging services at an affordable price could benefit some 2 million patients by 2024 in Jordan, Egypt and Saudi Arabia, with over 600,000 new consultations and additional radiology procedures made possible. 
  • Over 1,600 direct jobs will be maintained or created over the next 5 years, including almost 600 jobs for women. In addition to these figures, there will be the indirect jobs related to the maintenance of equipment.
  • The Group should also be making a significant contribution to government revenues in Egypt, Jordan and Saudi Arabia.