IFC, IFHA II, Swiss Re and CIEL Healthcare Invest in Hygeia Nigeria to Expand Access to Quality Healthcare
WASHINGTON,
07 January 2016
/ PRN Africa / -- IFC, a member of the World Bank Group; together
with IFHA-II Cooperatief, a private equity fund focused on
investing in the healthcare sector in Sub-Saharan Africa; Swiss Re,
the reinsurance company; and CIEL Healthcare Africa Limited, a
pan-African healthcare company, today announced an investment of
$66.8 million in Hygeia Nigeria Limited,
Nigeria's leading private healthcare company.
The new investment aims to improve healthcare infrastructure and increase access to quality healthcare services in
Nigeria.
In addition to providing capital, the partnership will increase and
broaden the technical expertise at Hygeia and ensure global best
practices through the involvement of Ciel Healthcare Africa. Ciel is
working in association with Fortis, a leading integrated healthcare
delivery service provider in
India. Through this project, Hygeia will have the capacity to reach more than two million patients over the seven-year investment period.
Fola Laoye, Chairperson of the
Board of Hygeia Nigeria Limited, said, “As Nigeria's foremost and
leading private integrated healthcare services provider, Hygeia is
consistently seeking ways to improve and expand our offerings so
that we can offer more Nigerians world class services at affordable
rates and help to reverse the growing trend to travel abroad for care.
IFC and IFHA, our long term partners, are working with us to achieve our
aim of closing the gap of quality healthcare service delivery in
Nigeria. We are excited to bring on
board reputable new partners like Swiss Re and Ciel Healthcare
Africa. We thank the Satya team for their support and commitment during a
very important time of development for Hygeia.”
Hygeia, operates a network of two hospitals and three clinics
under the Lagoon Hospitals brand and a health maintenance
organization, Hygeia HMO.
It is expanding its operations by upgrading and increasing
capacity at existing hospitals, including its management
information system, and creating a new tertiary care hospital. The
investment will allow Hygeia to expand its service offering in
healthcare services and the HMO to allow greater access to quality
healthcare in
Nigeria.
Eme Essien, IFC Country Manager for
Nigeria
said, “IFC is committed to financing integrated healthcare networks to
help increase access to quality healthcare. More people will get
better access to quality and cost effective healthcare in Nigeria.”
“IFHA-II believes that we have a strong consortium of partners in place to help realize growth at Hygeia.
Nigeria
is a key market for IFHA-II and through our investment in Hygeia
we will be able to expand access to quality healthcare across the
country.” said
Max Coppoolse, the Managing Partner of IFHA-II.
Hygeia HMO aims to consolidate its leadership position with its
investment in world class information technology infrastructure
that automates processes, ensures operational efficiencies and
improves customer interface.
“Satya is proud of the role it has played in Hygeia's growth and
the value it has helped create. We would like to thank our
partners the Elebute Family and the entire Hygeia team for their
dedication and hard work over the last six years. It has been a
privilege to support their efforts to offer world class healthcare in
Nigeria.” said
Moez Daya, Managing Partner of Satya Capital.
“We wish the management and employees of Hygeia all the
best as they continue on their journey to redefine Healthcare in
Nigeria. This transaction is the culmination of many years of hard work, of which they should be justly proud” added
Jide Olanrewaju, who led Satya's investment in Hygeia.
SOURCE International Finance Corporation (IFC)
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