AFRICA – The International Finance Corporation (IFC) and Investment Funds for Health in Africa (IFHA)-II, a private equity fund focused on health care in Sub-Saharan Africa, launched a US$115 million holding company to acquire and integrate targeted health care service businesses in East and Southern Africa.
The project will boost access to quality health care services to help improve lives and achieve universal health coverage across the region.
“HHI is filling a critical gap in the health care sector by providing secondary and out-of-hospital care for middle to lower middle income patients in East and Southern Africa,” said Max Coppoolse, Chairman of the Board of HHI and Managing Partner at IFHA-II.
“We aim to offer accessible, affordable and quality health care by increasing the number of hospitals and clinics we operate.”
This will be achieved both by building new facilities and acquiring existing health care assets.
“Access to quality and affordable healthcare is essential for building the human capital that economies need to promote growth,” said Stephanie von Friedeburg, IFC’s Chief Operating Officer, during a signing event on the sidelines of the Investment for Africa Forum in Cairo, Egypt.
IFC is the largest multilateral investor in health care in developing countries, with investments in over 200 projects in the past two decades totaling US$4.3 billion.
The Investment Funds for Health in Africa are private equity funds dedicated to small to medium size (equity) investments in private healthcare companies in Africa. IFHA, invests in private healthcare companies that operate in fast-growing markets and show unique advantages over the competition.