United Company of Pharmacists to sell off 30% of stake to KSA healthcare group

KSA’s Tamer Healthcare group may be acquiring 30 percent of Egypt’s United Company of Pharmacists (UCP) before the end of 2023 with a potential sale value of $35 million, according to sources speaking to regional media.

American conglomerate Cencora, formerly AmerisourceBergen, is reportedly offering 30 percent of its total 50 percent of the UCP to Tamer Healthcare, with the remaining stake staying in the family of founder, Hossam Omar. The sources explained that the two companies have settled on the size and value of the sale.

Considered the country’s largest pharmaceutical distributor, the UCP’s business model is centered on obtaining medicine from factories and distributing it to pharmacies and chains in exchange for a profit rate.