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Nile Scan & Labs, one of Egypt’s largest medical diagnostics providers, has been acquired. A consortium led by Giza-based investment firm Elevate Capital and members of the Moharram family has signed a definitive agreement to acquire Nile Scan & Labs in a deal valued at roughly $19.5 million (EGP 1 billion) in shareholders’ equity.
The transaction also marks the exit of previous investors Misr Capital and Bank Misr and gives Elevate Capital sole control of a company it plans to fold more tightly into its wider healthcare ecosystem. The completion of the deal still depends on satisfying customary regulatory and procedural conditions and securing the necessary regulatory approvals.
As reported by Al Mal News, the consortium is also considering a future listing of the company on the Egyptian Exchange as part of a broader strategy to build an integrated healthcare platform in Egypt before expanding into African markets, spanning diagnostics, hospitals, outpatient care, pharmacies and specialised health services.
The statement noted that the deal follows a period of partnership with Misr Capital, during which Nile Scan & Labs saw revenue growth and improvements to its governance and services, strengthening its position in the diagnostics market.
Dr. Tarek Moharram, chairman and founder of Elevate Capital, described the transaction as opening a new phase for Nile Scan & Labs, saying it is meant to deepen the company’s integration into the group’s healthcare ecosystem and support investment in digital transformation and artificial intelligence, alongside expansion across Egyptian and African markets.
He added that the group’s ambition is to build one of the region’s largest integrated healthcare platforms, one combining diagnostics, hospitals, outpatient care, pharmacies and specialised health services under one umbrella to support sustainable growth and raise the quality of patient care.
Established roughly three decades ago, Nile Scan & Labs serves more than 150,000 patients annually through a network of more than 20 centres nationwide, employing over 800 medical and technical staff. Also known locally as Nile Radiology and Analysis Centres, it will continue operating under its existing brand after the deal closes, while benefiting from closer integration within the Elevate Capital ecosystem, which includes Gustave Roussy International Egypt, New Giza University Hospital, Nile Health pharmacies, and a number of other healthcare platforms and specialised medical services.
Elevate Capital Management describes itself as a strategic investment management company focused on addressing healthcare gaps in Egypt and across Africa, working with management teams to deliver both financial returns and social impact. The firm positions itself as Africa’s first comprehensive healthcare operator investment platform, pursuing vertical and horizontal synergies across its portfolio to support rapid organic and planned expansion, with a stated vision centred on improving healthcare access and affordability for underserved populations across the continent.
It intends to build on the legacy of Nile Scan & Labs through continued investment, digital transformation and AI adoption, aiming to raise service quality for patients while pursuing further growth across Egypt and Africa. A major goal of the firm is to bring diagnostics fully under the same ownership structure, tighten operational links between diagnostics, hospital care, outpatient services and pharmacies, letting the group route investment and resources more efficiently across its assets.
