The Sovereign Fund of Egypt (TSFE), via its health-focused sub-fund, has acquired around 20% of Care Pharmacies for EGP 75 million, in cooperation with EZ International, two sources in the know told Asharq Business.

Accordingly, TSFE now owns 45 out of 220 branches of Care Pharmacies across the country, one source said.

However, the procedures of shares transfer will be finalized within the coming weeks, another source pointed out.

He added that this acquisition comes within the framework of the strategic partnership between TSFE and El Ezaby Pharmacy to improve the accessibility of pharmaceutical services to citizens.