Elevate Capital Acquires Nile Radiology & Labs in $19.5 Million Deal

Elevate Capital, an Egypt-focused healthcare investment firm, and members of the Moharram family have signed a definitive agreement to acquire 100% of Nile Radiology and Labs for approximately $19.5 million, subject to customary regulatory approvals and closing conditions.

Founded nearly three decades ago by the late Dr. Hazem Moharram, Nile Radiology and Labs operates more than 20 diagnostic centres across Egypt and serves over 150,000 patients annually. The company recently expanded through a partnership with Misr Capital.

Following completion of the transaction, Nile Radiology and Labs will continue operating under its existing brand while becoming part of Elevate Capital's broader healthcare portfolio.

The acquisition supports Elevate Capital's strategy to build an integrated healthcare platform spanning diagnostics, hospitals, outpatient care, pharmacies, digital health and specialised medical services. Its existing portfolio includes Gustave Roussy International Egypt, New Giza University Hospital, Nile Health Pharmacies and a growing network of outpatient healthcare platforms.

According to the company, the integration is expected to strengthen coordination across its healthcare assets, expand access to medical services in Egypt and support future expansion into African markets.

As part of its long-term strategy, Elevate Capital plans to pursue geographic expansion, selective acquisitions, digital transformation initiatives and AI-powered diagnostics. The consortium also intends to explore a potential future listing of the integrated healthcare platform on the Egyptian Exchange.