Kingdom of Saudi Arabia's Tamer Healthcare, a healthcare and wellness company, is poised to acquire 30 percent of Egypt's United Company of Pharmacists (UCP) in a deal worth $35 million by the end of 2023. American conglomerate Cencora, formerly AmerisourceBergen, is set to transfer 30 percent of its 50 percent UCP ownership to Tamer Healthcare, while the remaining share remains with the founder's family.
The two companies have finalized the sale terms. UCP, an Egyptian pharmaceutical distributor, sources medicines from factories and supplies them to pharmacies and chains, generating profits. The UCP holds a third of Egypt's pharmaceutical distribution market, serving 38.5 thousand pharmacies and 2 thousand hospitals, with a global presence spanning sixty-nine warehouses and twenty thousand pharmacies.