Egypt: $10m investment in digital pharmacy platform Yodawy from Ezdehar Management

Ezdehar Management, a growth equity investor focusing on the Egyptian market, has announced that a $10 million investment in Yodawy, described as a “modern-day digital pharmacy, powered by technology, advanced fulfilment capabilities, and integrations with pharmacies, insurance companies, and healthcare providers”.

According to the press release, the investment “falls within Ezdehar’s strategy of investing in and supporting mid-cap companies undergoing transformative growth”, and marks Ezdehar’s entry into the health technology and pharmaceutical retail market.

Yodawy’s platform is currently integrated with health insurance providers, hospitals and clinics, with a network of 3,000 pharmacies. The new investment will focus on expanding its client base and “tech-enabled prescription fulfilment capabilities”, as well as on helping the company to “solidify its position in the health-tech space” and as a Pharmacy Benefit Management player in the region.

Karim Khashaba, CEO of Yodawy, said: “Ezdehar’s funding and partnership at this time will be critical for us to continue to drive change and support us in our mission to reduce healthcare costs, facilitate patients’ access to services, and improve their overall experience.”

Amir Mishriky, managing director of Ezdehar, commented that the company “recognized an untapped opportunity in the medication value chain and created an end-to-end management scheme starting from prescription generation to fulfilment that proved to be instrumental to patients and service providers in the market. We are excited about Yodawy’s growth story, and truly believe in the prospect and potential it holds in disrupting the industry.”

To read the press release in full, please click here.

In other funding news, Finnish health tech company CardioSignal has announced that it has raised $10 million in Series A funding for their tech to promote early detection of heart diseases, with the investment intended to help scale the solution and pursue further clinical validation.