EFG Hermes’ investment banking division, the leading investment banking franchise in Frontier Emerging Markets (FEM), announced today that it has successfully advised TPG’s Evercare Group on the sale of its 50% Stake in Islamabad Diagnostic Centre (IDC) to Integrated Diagnostics Holding (IDH) for a total consideration of USD 72.35 million.
IDC is a leading radiology and pathology diagnostics service provider in Pakistan. It provides a comprehensive range of state-of-the-art imaging and lab services under one roof, across an extensive national network of 80+ branches in ~30 cities.
READ ALSO: Evercare Begins Operations of its State-of-the-Art Hospital in Lagos
Ali Khalpey, CEO of EFG Hermes Frontier, commented on the transaction, “I am proud of the team’s ability to conclude such a high profile, cross-border transaction for one of the most active private equity investors in FEM. This marks EFG Hermes’ first inbound transaction into Pakistan, and showcases our ability to connect our clients across our markets. We look forward to continuing to build on this track record.”
EFG Hermes acted as the exclusive sell-side advisor to TPG.
