Cairo – Mubasher: The Sovereign Fund of Egypt (TSFE), through its health-focused sub-fund E-Z International, has acquired approximately 20% of Care Pharmacies for EGP 75 million, according to Asharq Business.

TSFE bought 45 branches of Care Pharmacies out of a total of 220 branches nationwide, an informed source said, cited by Asharq Business.

This acquisition forms part of a strategic partnership between TSFE and El-Ezaby Pharmacy aimed at expanding pharmaceutical services for citizens.

In May 2023, TSFE, through its Healthcare & Pharma Subfund, partnered with private equity firm B Investments Holding and El-Ezaby Pharmacy to launch EZ International.