Dawi Clinics, the largest chain of outpatient care in Egypt, has raised EGP 250 million (about $8 million) in funding to support the expansion of its clinics across the country.
The investment round was led by Al Ahly Capital Holding (ACH), the local investment arm of the National Bank of Egypt, with co-investment from the Egyptian-American Enterprise Fund, a US-backed investment fund that has previously invested in Dawi.
Dawi Clinics, currently operating 20 branches across 10 governorates, provides coordinated family care delivered by over 260 doctors specialising in various medical fields. In 2022, Dawi served more than 120 000 patients across Egypt.
The success of Dawi Clinics can be attributed to its unique operating model, which focuses on handpicking physicians and enabling them to work together through a cloud-based medical electronic record platform. This approach ensures that all patient medical data is readily available, leading to better health outcomes.
Commenting on the investment, Karim Saada, managing director of ACH, said, “We are pleased to partner with the founders of Dawi, a company that has impressively grown over the past years with strong and dynamic management.
“This investment aligns with the mission and growth strategy of our healthcare platform, providing high-quality and affordable healthcare services nationwide. We look forward to expanding Dawi and our healthcare platform together.”
James Harmin, chairman of EAEF, expressed excitement about supporting Dawi Clinics in its next phase of growth. He stated, “Founded and led by two prominent women entrepreneurs, Dawi is revolutionizing Egypt’s healthcare market by offering consumers comprehensive health services through its primary care clinics. We are committed to supporting Dawi as it delivers quality and affordable healthcare to consumers across Egypt.”
Magda Habib, co-founder and CEO of Dawi Clinics, highlighted the significance of securing new investments in the challenging economic landscape.
She stated, “This demonstrates the inherent value in the Egyptian market, particularly in the healthcare sector, and specifically the ability of Dawi Clinics to unlock this value and provide superior returns. Our proven operating model and successful branches are what attracted these investors to Dawi Clinics.”
Mairose Doss, co-founder and COO at Dawi Clinics, emphasised the importance of the clinic’s doctors. “Our doctors are our key asset. We are proud of our high-calibre, empathetic, young, and educated team. When supported by a solid institution operating within a structured framework, they can deliver superior care and better outcomes for our patients.”
The investment round saw ACH represented by MHR & Partners in association with White&Case, while Nour & Partners in association with Al Tamimi & Company represented EAEF. Dawi was represented by Ibrachy Legal Consultancy.
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