📋 Tender Overview
Project Number
46586
Company Name
EGYPTIAN GROUP FOR MEDICAL INDUSTRIES
Date ESRS Disclosed
Apr 3, 2025
Country
Egypt, Arab Republic of
Region
Africa
Last Updated Date
Environmental Category
B
Status
Pending Approval
Sector
other
Industry
other
Department
Regional Industry - MAS Africa
Project Description
The proposed investment is a USD15M unsecured income participating loan, in GMED Holding B.V. (the Company under creation, or the Borrower ), 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 into five East African countries, namely: Kenya, Tanzania, Uganda, Ethiopia, and Rwanda as a medtech distributor ( the Project ).
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.
Overview of IFC's Scope of Review
IFC’s environmental and social (E&S) review of this project consisted of an analysis of the client’s E&S Management System (ESMS) and relevant information, including policies, management standards and procedures. The review also included a field visit to three (3) operational sites for assembly and manufacturing of disposables at the industrial zone of tenth of Ramadan and warehouses in Egypt and meetings with key staff in July 2024.
