Elevate Capital and members of the Moharram family have signed a definitive agreement to acquire 100% of Nile Scan and Labs, one of Egypt’s leading diagnostic imaging and laboratory service providers, in a transaction valued at approximately EGP 1bn.
Upon completion of the transaction, which remains subject to customary regulatory approvals and closing conditions, Nile Scan and Labs will become wholly owned by the Elevate-Moharram consortium.
The investors also announced plans to explore a future listing of the company on the Egyptian Exchange (EGX) as part of a long-term strategy to build one of the region’s leading integrated healthcare platforms.
The acquisition marks a strategic milestone for Elevate Capital and aligns with its long-term investment strategy of developing scalable healthcare platforms across Egypt, the Middle East, and Africa. The firm’s investment focus spans diagnostics, hospitals, outpatient care, pharmacies, digital health, and specialised healthcare services.
According to the consortium, the transaction will strengthen operational integration across its healthcare portfolio, enabling more efficient capital allocation while supporting geographic expansion and service development, particularly in high-growth African markets.
The acquisition follows a successful partnership between Nile Scan and Labs and Misr Capital, during which the company achieved significant revenue growth, strengthened its corporate governance framework, expanded its service offerings, and reinforced its position as one of Egypt’s leading diagnostic healthcare providers.
“This transaction marks the beginning of an important new chapter in the journey of Nile Scan and Labs,” said Tarek Moharram, Chairperson and founder of Elevate Capital.
“The acquisition will enable deeper integration of Nile Scan and Labs within our healthcare ecosystem, strengthen our investments in innovation and artificial intelligence, and support expansion across Egypt and African markets while continuing to deliver the highest standards of patient care.”
Moharram said Elevate Capital’s long-term ambition is to build one of the leading integrated healthcare groups in Egypt and Africa by bringing together diagnostics, hospitals, outpatient services, pharmacies, and specialised healthcare platforms within a single ecosystem driven by innovation, operational excellence, and sustainable growth.
He also acknowledged the role of Misr Capital’s board in supporting the company’s transformation over recent years, describing its contribution as instrumental in strengthening Nile Scan and Labs’ market position.
Founded nearly three decades ago by the late Hazem Moharram, Nile Scan and Labs has grown into one of Egypt’s most trusted diagnostic healthcare providers. The company serves more than 150,000 patients annually through a network of more than 20 diagnostic centres nationwide and employs more than 800 medical and specialised professionals.
Following completion of the acquisition, the company will continue operating under its established brand while benefiting from closer integration with Elevate Capital’s broader healthcare portfolio.
The group’s healthcare assets include Gustave Roussy International Egypt (GRIE), New Giza University Hospital (NGUH), Nile Health Pharmacies, as well as a growing network of outpatient healthcare platforms and specialised medical services.
The consortium plans to accelerate the company’s next phase of growth through expansion across Egypt and into international markets, with a particular focus on Africa. Its strategy also includes pursuing selective acquisitions, advancing digital transformation initiatives, expanding AI-powered diagnostic capabilities, and continuing investment in clinical excellence.
The investors said they also aim to create long-term shareholder value while positioning the company for a potential public listing when market conditions become favourable.
Legal counsel to Elevate Capital on the transaction was provided by Ahmed Samir Sallam, founding partner at Gomaa, Moharram & Sallam Law Firm.
