US firm to acquire more local midsize hospitals
Zachary Ochuodho @zachuodho
US private equity fund Evercare Health Group has said it intends to acquire more medium-size hospitals in Kenya as part of its investment in the region.
Speaking yesterday in Thika during the launch of Sh1.6 billion expansion programme of Avenue Health Group in which it has funded, Evercare Group Chief Operating Officer, Andrew Currie said it will acquire more medium-size hospitals in Kenya.
Currie revealed that more than Sh10 billion has so far been spent in Kenya to acquire and develop infrastructure in medical facilities since entering Kenya in 2017.
He said the new acquisitions will focus on middle-level hospitals with a strong presence in rural and semi-urban areas.
Healthcare fund
Evercare is owned by the Evercare Health Fund - a $1billion (Sh100 billion) emerging markets healthcare fund, is an integrated healthcare delivery network, operating in Africa and South Asia.
Its aim is to improve access to medical resources and the efficiency of the healthcare systems across Africa and Asia through creating a network of healthcare facilities that can share resources.
The Evercare fund has also invested in Nairobi Women’s Hospital, Avenue Hospital, Metropolitan Hospital and Ladnan Hospital.
Speaking during the occasion, Group Chief executive officer, Dr Denis Ogolla said the Avenue Healthcare will retain its “Provider-based Managed Healthcare” model to grow its market share.
