TVM Capital Healthcare Partners Launches Investment Bid For Egypt’s Ameco

October 25, 2014

Corporate

UAE, 9 November 2014: TVM Capital Healthcare Partners has launched a mandatory tender offer to buy the majority stake of Ameco Medical Industries based in Egypt. The move is part of a deal with the National Bank of Egypt and Al Ahly Funds and Portfolio Management to purchase a 100% of their joint shareholding. The agreement marks TVM Capital’s premier investment in Egypt, as well as its first in the medical device sector in the MENA region.

Ameco is one of the leading companies in the design and manufacture of catheters in Egypt. Ameco was established in 1991, restructured into a Joint Stock Company in 2000 and subsequently did a public listing on the Nilex in 2009. The company now manufactures and sells a comprehensive product range across dialysis, urology and central venous catheters with new product ranges introduced recently comprising of percutaneous sheath introducers and diagnostic catheters. National Bank of Egypt and Al Ahly Funds and Portfolio Management currently hold approximately 48% share in the company.

Youssef Haidar, Partner and Managing Director of TVM Capital Healthcare Partners commented: “Low cost/high value medical device manufacturing has always been a healthcare vertical of great interest for us. Egypt is also one of our key markets of focus for investments. We are very excited about the Ameco acquisition as it addresses both strategic objectives. It is also our first public to private buyout in the MENA region, and represents our entry point into the North African healthcare market through a buyout of a highly innovative IP-based manufacturer based out of Egypt and exporting to nearly 60 markets globally. We look towards building on this investment by targeting other opportunities in the wider healthcare sector in Egypt, the Levant and the North Africa region.”

Mohamed Alhamboly, Chairman of the Board, Ameco commented: “Ameco have supplied many innovative products with great value add to customers and patients and are targeting to be market leader in some of the products but recognized in all. It is a commitment not a dream. Of course money is needed to achieve that but is this enough? We’ve never looked for a partner to inject money in the company but for a real strategic partner who will share our commitment. I believe with TVM Capital, we got exactly that. Ameco has the manufacturing know how and TVM Capital have the financial and business know how. I believe this is a perfect alliance.”

Robert Mitchell, a member of Ameco’s Board commented: “Ameco’s highly differentiated product offering has strong potential to improve hospital efficiencies and patient outcome the world over. The unique partnership with TVM Capital heightens the probability of tremendous success. I look forward to being part of this team as we continue to innovate and collectively enhance global awareness of the Ameco brand.”

TVM Capital Healthcare Partners was the first private equity firm in the MENA region dedicated to the healthcare sector. The company has so far focused on making growth capital and buyout investments from its first fund, TVM Healthcare MENA I. It has led investments of close to US$100 million in its five portfolio companies in the field of long-term care, rehabilitation, home care, fertility treatment and medical devices. With the goal of establishing global centers of excellence on a local level, the company has established clinical affiliations with strong international healthcare institutions such as the Spaulding Rehabilitation Network (a Harvard Medical School teaching hospital) and Joslin Diabetes Center, one of the world’s leading diabetes research, clinical care and education organizations, which is dedicated to the prevention, treatment and cure of diabetes.

TVM Capital Healthcare Partners is a member of TVM Capital Group, an affiliation of globally acting venture capital and private equity firms with an operating track record of 30 years. Led by Chairman & CEO Dr. Helmut M. Schühsler, TVM Capital Healthcare Partners was established in Dubai in 2009 targeting the growing investment opportunity in private sector healthcare across the Middle East and North Africa (MENA).

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About TVM Capital Healthcare Partners – Investing in Value Creation in Healthcare

TVM Capital Healthcare Partners Ltd. was established in 2009 as a DFSA-licensed fund manager operating out of the Dubai International Financial Centre (DIFC), and was the region’s first private equity firm dedicated exclusively to the healthcare sector. The company established itself as a developer of healthcare business concepts, as well as an investor and leader in building growth businesses in private healthcare in the MENA region and India. TVM Capital Healthcare Partners focuses on companies in the field of healthcare services, pharmaceuticals, devices and other hospital-related businesses. Its strength is the breadth and depth of international relationships, commitment to quality, transparency, and innovation in the way it does business. A strong local presence, excellent investors and a strategic global partner network, provide a powerful support system for the entrepreneurs and management teams the firm backs.

TVM Capital Healthcare Partners creates, invests in and grows pioneering companies, supported by partnerships with strong international healthcare institutions such as the Spaulding Rehabilitation Network (a Harvard Medical School teaching hospital), Joslin Diabetes Center (an independent, non-profit institution affiliated with Harvard Medical School), and Bourn Hall Clinic, Cambridge, UK (the world’s first in-vitro fertilization clinic).

TVM Capital Healthcare Partners is part of TVM Capital Group, an affiliation of globally acting venture capital and private equity firms with an operating track record of 30 years. TVM Capital Group has financed more than 120 healthcare and life science companies and has documented its success as a growth capital investor through 43 initial public offerings from its portfolio.
For more information please visit www.tvm-capital.ae or www.tvm-capital.com

About Ameco Medical Industries

Ameco Medical Industries is a medical group dealing in Catheters & Healthcare business since more than 12 years , and is being directed by physicians who had practiced medicine for quite a long time and who have got a high experience in the use of medical catheters.

Ameco Medical Industries produce “Amecath” Haemodialysis catheters, Urology catheters and Central venous catheters according to high international quality standards and the plant had been equipped with the latest technology machines.

“Amecath ” catheters are available in many countries of Europe, USA , Asia, North Africa… and are being FDA approved, CE marked and ISO 13485:2000 certified.