Grinta, a leading provider of healthcare and pharmaceutical solutions, has announced its acquisition of the primary healthcare clinic chain City Clinic. This acquisition enables Grinta to access over 150,000 patients and strengthens its presence in Egypt’s healthcare sector.
Additionally, Grinta received a strategic investment from Beltone Venture Capital and Raed Ventures in a funding round whose value was not disclosed.
Ali Mokhtar, Managing Director of Beltone Venture Capital, stated:
“We are excited to partner with Grinta as the company redefines the healthcare and pharmaceutical landscape in Egypt and the region. Their strategic shift towards primary and retail healthcare reflects their ability to anticipate and adapt to market needs, positioning them as a leader in this space.”
Wael Nafea, Partner at Raed Ventures, expressed his confidence in Grinta’s vision, saying:
“We are pleased to support Grinta and its management team once again. The company has an innovative approach, and with this new acquisition, we remain impressed by their creativity. With this acquisition, their ambitious plans to enhance access to healthcare and improve services in emerging markets are growing.”
Grinta is also strengthening its presence in East Africa following its success in Tanzania, through exports and partnerships with Egyptian pharmaceutical manufacturers. Additionally, Grinta is establishing a chain of pharmacies in Tanzania through a buy-and-expand strategy, enhancing its presence in the African retail sector.
The acquisition of City Clinic by Grinta represents a strategic step to enhance primary healthcare and pharmaceutical retail services in Egypt. With financial support from Beltone and Raed Ventures, Grinta aims to expand its operations and improve the quality of healthcare services provided to patients in emerging markets.
