CAIRO - 5 September 2021: Film Clinic has announced a new partnership with Ergo, Media Ventures where the latter will acquire 49% of Film Clinic group of companies.
The group was founded by Producer and scriptwriter Mohamed Hefzy and includes Film Clinic for production, and Film Clinic Indie Distribution and Meem Creative Circle, which was founded in partnership with director Amr Salama.
The investment will be used to expand the company’s activities within the film and TV industry.
This new partnership will yield significant positive results for Film Clinic turning it into a more professional, institutionalized, end-to-end visual media production and distribution entity to continue its endeavors to develop high-quality Egyptian and Arabic cinema and entertainment content.
It’s worth mentioning that Film Clinic has a strong track record of unprecedented achievements in the entertainment industry as it has produced and distributed a wide array of Arab films that were selected at prestigious international festivals, reaping awards, and critically acclaimed reviews. Film Clinic has also produced Paranormal, Netflix’s first Egyptian original series.
Mohamed Hefzy commented on the deal, saying “Since its inception in 2005, Film Clinic's growth has been marked by several significant milestones.
This investment and partnership with Ergo mark the inauguration of a new phase for the company that we are very excited about, and I believe in its necessity and importance as a step forward, not only for the evolution of Film Clinic, but for the entire media and entertainment industry in Egypt and the Arab World.”
“I’m looking forward to how this partnership will help identify and develop many more promising Arab filmmaking talents and help bring their works to light” said Amr Salama.
Gamal Guemeih, Investment Manager of Ergo, said: “We are happy to have Film Clinic as Ergo’s first investment because of its strong track record in producing high quality content as well as the vision and caliber of its management, while media is a sector that has not been quite familiar to private equity investors in the region, we believe that this sector can deliver superior returns especially with digitization and the rise of new media channels in light of the coronavirus pandemic. With Ergo’s financial and strategic support, we hope to help Film Clinic realize its full potential and become a role model for Egyptian media production companies.”
Founded in 2018, Ergo, Media Ventures is a dynamic investment firm committed to transforming the media landscape in Egypt and the Arab world.
With a primary focus on digital and traditional content creation and distribution, Ergo, aims to re-establish the Egyptian media and entertainment industry as a sustainable economic, social, and cultural power.
Ergo has supported multiple promising Arab and Egyptian film projects through the Cairo and Gouna film festivals. Many of these projects have gone on to win several awards from prestigious film festivals around the world.
Film Clinic group of companies was established by Mohamed Hefzy in 2005 as a film development and production company, offering screenwriting workshops and producing narrative and documentary features while targeting general audiences in Egyptian, regional, and international markets, the company has developed a reputation for supporting young independent filmmakers, and for investing in innovative approaches to film that offer creative alternatives to Egyptian mainstream commercial cinema.
Film Clinic has co-produced a plethora of Egyptian, Arab, and international features, and its productions have participated in over 100 film festivals and won over 100 awards at festivals including Sundance; the BFI London Film Festival; the Cannes Film Festival; the Berlin International Film Festival; the Locarno Festival; the Toronto International Film Festival; the Cairo International Film Festival; the Carthage Film Festival;the Malmo Arab Film Festival; the Montpellier Film Festival; the Oran Film Festival and the Marrakech International Film Festival, in addition to Egyptian national festivals.
Recently, Film Clinic has produced Feathers, the first Arab film to receive the Grand Prix at Cannes' International Critics Week. Furthermore, it produced several films and serial works including: Luxor (UK), which was an official selection at the Sundance Film Festival, Souad (Egypt), which was selected for the Cannes Film Festival in 2020, and the Berlinale in 2021, and Paranormal, Netflix's first Egyptian original.
The company's previous productions include: You Will Die at Twenty (2019), Yomeddine (2018), Sheikh Jackson (2017), Withered Green (2016), Clash(2016), Rags and Tatters (2013), Villa 69 (2013), and My Brother the Devil (2012). Film Clinic has also acquired the distribution rights for several films, such as: 200 Meters (2020), Barakah Meets Barakah (2016), Poisonous Roses(2019), and Exterior/Night (2018).