Concord International Investment mulls plans to set up healthcare investment company in Egypt

Concord International Investments, a company providing investment management and supervisory services to high-net-worth individuals, banks, thrift institutions, and other investment companies from its headquarters in New York, is planning to establish a healthcare investment company in Egypt with a capital of $40 million.

Chairman Mohamed Younes has told Asharq Business that investments will be directed to industries supporting the healthcare sector, such as medical equipment and requirements used in hospitals, in addition to other products and services related to the field.

Younes also indicated that Concord is set to raise funding rounds from local and global institutions starting from the second half of 2023 to provide the necessary financing for setting up the healthcare investment company.

Concord targets establishing a new equity fund and another fund for investment in fixed-income instruments this year, he also added. The New York-quartered Concord is one of the leading fund managers of Egyptian securities in the world.

Founded in 1988, the company manages Egyptian, Turkish and U.S. equity and fixed income securities directly and through its affiliates’ investment portfolios, private equity funds and mutual funds through its offices in New York and Cairo.