Nairobi, Kenya, January 27, 2015— IFC,
a member of the World Bank Group is investing $6.75 million in Mauritius-based
CIEL Healthcare Limited (CHL) to help the company acquire and operate a
chain of hospitals across sub-Saharan Africa. The hospitals will offer
high-quality, modern medical services, reaching an additional 150,000 patients
per year. CHL launched its network in Uganda through the acquisition of
International Medical Group (IMG) in July 2015.
CHL aims to support IMG’s expansion plans
to position IMG as the market leader for private healthcare in East Africa.
CHL will invest in renovating IMG’s hospital in Kampala in line with international
standards, upgrading services in gynecology, general surgery, orthopedics,
neurosurgery, critical care, cardiac and renal sciences. CHL is working
with Fortis Healthcare, one of India’s leading integrated healthcare networks,
to transfer skills and develop medical specialties in all its hospitals
Quality healthcare is a pressing need in
sub Saharan Africa, where medicine prices are among the highest in the
world, and few hospitals offer specialized care. Despite widespread poverty,
50 percent of health expenditure in Sub Saharan Africa is financed by out-of-pocket
payments. Africa’s health sector is fragmented across numerous clinics,
hospitals and pharmacies, which results in unreliable quality and high
costs for the consumer.
By acquiring and managing a network of hospitals,
CHL aims to instill international best practices, standardize quality,
bring in cost efficiencies, and offer a wider range of medical services
in sub-Saharan Africa. Along with IMG, CHL has also invested in Fortis
Clinique Darné in Mauritius and Hygeia Nigeria Limited which owns Lagoon
Hospitals in Nigeria.
Alex Alexander, Managing Director of CIEL
Healthcare Africa, said “IFC’s investment in CHL helps us consolidate
our capital base to further expand our healthcare network in Africa, which
will in turn provide access to high-quality medical care to patients in
Africa. Our aim is to bring in best medical practices and technological
innovation, along with our partner Fortis Healthcare. Today, we have the
opportunity to demonstrate the efficiency and scalability of private healthcare
Oumar Seydi, IFC Director for Eastern and
Southern Africa, said “Private providers like CIEL Healthcare can support
governments in Africa in improving quality and reach of health coverage.
IFC’s investment in CIEL Healthcare will help build an integrated network
of hospitals in Africa, which offer reliable services at consistent costs.
By partnering with India’s Fortis Healthcare, CHL can ensure that health
care in Africa keeps up with international in medical technology.”
IFC is the world’s largest multilateral
investor in private healthcare, managing an active portfolio of about $1.3
billion worth of health investments. IFC investments in service providers,
pharmaceuticals and medical technology are aimed at promoting greater access
to affordable, high-quality healthcare.
IFC, a member of the World Bank Group, is
the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
we use our capital, expertise, and influence, to create opportunity where
it’s needed most. In FY15, our long-term investments in developing countries
rose to nearly $18 billion, helping the private sector play an essential
role in the global effort to end extreme poverty and boost shared prosperity.
For more information, visit www.ifc.org
About CIEL Healthcare
CIEL Healthcare Limited (CHL)
is a Mauritian registered private limited company, with a prime objective
to own, operate and manage assets in the healthcare sector in Mauritius
and across Sub-Saharan Africa. CHL currently holds investments in The Medical
and Surgical Centre Limited, which owns Fortis Clinique Darné, the leading
private hospital in Mauritius, The International Medical Group, largest
provider of private healthcare services in Uganda, Laboratoire International
de Bio Analyses Ltée, and CIEL Healthcare Africa Limited, healthcare management