EFG Hermes Advises TPG’s Evercare Group to Sell 50% Stake in Islamabad Diagnostic Centre to Integrated Diagnostics Holding for USD 72.4m

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EFG Hermes’ investment banking division, the leading investment banking franchise in Frontier Emerging Markets (FEM), announced today that it has successfully advised TPG’s Evercare Group on the sale of its 50% Stake in Islamabad Diagnostic Centre (IDC) to Integrated Diagnostics Holding (IDH) for a total consideration of USD 72.35 million.

IDC is a leading radiology and pathology diagnostics service provider in Pakistan. It provides a comprehensive range of state-of-the-art imaging and lab services under one roof, across an extensive national network of 80+ branches in 30 cities.

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Ali Khalpey, CEO, EFG Hermes Frontier, commented on the transaction, “I am proud of the team’s ability to conclude such a high profile, the cross-border transaction for one of the most active private equity investors in FEM. This marks EFG Hermes’ first inbound transaction into Pakistan and showcases our ability to connect our clients across our markets. We look forward to continuing to build on this track record.”

EFG Hermes acted as the exclusive sell-side advisor to TPG.

EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) started in Egypt and has grown over 37 years of success to become the first universal bank in Egypt with a leading investment banking platform with access to emerging and frontier markets. Drawing on our proven track-record and a diverse team of talented employees, we provide a wide spectrum of financial services that include advisory, asset management, securities brokerage, research and private equity to the entire MENA region.

In 2015, EFG Hermes launched its Non-Bank Financial Institutions (NBFI) Platform, which overlooks activities in the non-banking finance field covering microfinance, leasing, factoring, Buy-Now Pay-Later (BNPL), mortgage and insurance. This falls in line with the Firm’s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which has seen the Firm establish a physical presence in Pakistan, Bangladesh, Vietnam, Kenya, Nigeria, the United Kingdom and the United States. In 2021, the firm acquired a controlling stake in aiBANK allowing the Firm to transform into a universal bank in Egypt.

 

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