According to the Bank’s website, the proposed investment is a USD15M unsecured income participating loan, in GMED Holding B.V., a holding medical technologies (medtech) manufacturing and distribution company, to support (i) growing its existing subsidiaries' operations in Egypt and (ii) the company's expansion plan in to five East African countries namely: Kenya, Tanzania, Uganda, Ethiopia, and Rwanda as a medtech distributor.

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability because EGMED’s business activities have limited adverse E&S risks or impacts that are few in number, generally site-specific, largely reversible, and readily avoided by implementing mitigation measures. Key E&S issues included: (a) the company’s ESMS and organizational capacity to manage operations in line with IFC PSs; (b) adequate E&S risk assessments and management of the proposed operations; (c) assurance of fair, safe and healthy working conditions for employees in line with IFC PSs especially on gender-based violence (GBV); (d) energy efficiency of the operations; (e) community health, safety and security and community grievance mechanism.

IFC’s investment is an up to USD15M Unsecured Income Participating Long-term Loan.

Founded in 1983, the subsidiaries in Egypt (collectively known as “EGMED”) operate in the field of assembly, manufacturing, and distribution of medical equipment and consumables for hospitals and healthcare entities, including maintenance and servicing of equipment. Consumables manufactured include medical products used for dialysis equipment such as the Bloodline and Fistula needle. The disposables of dialysis devices are utilized with machines assembled by EGMED’s factory in 10th of Ramadan City processing plant. EGMED currently serves over 1,500 hospitals and large pharmacies chains all over Egypt. The company has built long-term partnerships with world leading healthcare manufacturers. As of December 2024, the company operates four manufacturing plants in Cairo Egypt in addition to nine distribution centers.

The Company was founded by Dr. Sayed Shaker in 1983. Currently, in Egypt, Dr. Sayed's son, Amr Shaker (the Sponsor) along with his family own 100% of Egyptian Company for Medical Industries (EGF), Egyptian Group for Exports & Imports (EGI), Egyptian Group for Corporate Services (EGCS), and 50% of Fresenius Medical Care Egypt (FMCEG) (collectively known as “EGMED”). Regionally, the Shaker family will own 100% of entities created for the expansion into East Africa. As part of this transaction, the group of Companies will be restructured into a Holding Company that will directly or indirectly mirror the above ownership stakes.

EGMED
Mr. Hani Gamal
CFO
+201223103478
Hani.gamal@EGMED.com
19 Ebad El Rahman St. Heliopolis Cairo, Egypt
https://www.egmed.com/

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