The acquisition gives the consortium full ownership of one of Egypt’s diagnostic healthcare providers as it builds an integrated healthcare platform. It also has ambitions to eventually list the company on the Egyptian Exchange (EGX).

Elevate Capital and members of the Moharram family have signed a definitive agreement to acquire 100% of Nile Radiology and Labs. The transaction is valued at approximately USD 19.5 million (EGP 1B). The deal remains subject to customary regulatory approvals and closing conditions.

Why You Should Care

The acquisition advances Elevate Capital’s strategy of building a fully integrated healthcare platform spanning diagnostics, hospitals, outpatient care, pharmacies, digital health, and specialized healthcare services. 

The consortium also plans to study listing Nile Radiology and Labs on the Egyptian Exchange, creating a potential path to public markets as the platform expands.

The Details

The transaction follows a period of growth for Nile Radiology and Labs under its partnership with Misr Capital. 

Under the transaction, the company will become wholly owned by a consortium comprising Elevate Capital and members of the Moharram family. This is upon the satisfaction of all conditions of the agreement. The transaction remains subject to customary regulatory and procedural conditions and the receipt of the necessary regulatory approvals.

Commenting on the acquisition, Dr. Tarek Moharram, Chairman and Founder of Elevate Capital, said the deal marks the beginning of a new phase for Nile Radiology and Labs. He said integrating the company into Elevate’s healthcare ecosystem will support further investment in innovation, AI-driven diagnostics, and expansion across Egypt and Africa while strengthening patient care. He added that the group’s long-term ambition is to build one of Africa’s leading integrated healthcare providers across diagnostics, hospitals, pharmacies, outpatient services, and specialized healthcare.

Founded nearly three decades ago by the late Dr. Hazem Moharram, Nile Radiology and Labs is a diagnostic healthcare provider. It serves more than 150,000 patients annually through a network of over 20 diagnostic centers across Egypt.

The Ripple

Upon completion of the transaction, Nile Radiology and Labs will continue operating under its existing brand while becoming more closely integrated with Elevate Capital’s broader healthcare portfolio, which includes Gustave Roussy International Egypt, New Giza University Hospital, Nile Health Pharmacies, and a growing network of outpatient and specialized healthcare platforms. 

The integration is expected to improve coordination across the group’s assets while expanding access to healthcare services in Egypt and supporting future growth in African markets.

What to Watch

Beyond integrating Nile Radiology and Labs into its healthcare platform, Elevate Capital plans to accelerate growth through geographic expansion, selective acquisitions, digital transformation initiatives, and AI-enhanced diagnostics.

 The consortium’s intention to explore an eventual Egyptian Exchange listing will also be a key milestone to watch as it pursues long-term expansion across Egypt and Africa.