Concord International, an investment management company headquartered in New York, aims to establish a healthcare investment company in Egypt worth an estimated $40 million.

According to Concord International, the new investments will be directed to industries supporting the healthcare sector, such as medical equipment, hospital supplies and other medical products and services.

The funding will be raised in the second half of 2023, during funding rounds from local and global institutions, to help set up the new investment company in Egypt.

Founded in 1988, Concord International is one of the leading fund managers of Egyptian securities. To date, it manages Egyptian, Turkish and US equity and fixed income securities from its New York and Cairo office.