30 Nov 2016
CIEL Healthcare: Growing Strong
Within three years, CIEL Healthcare Limited (CHL) has firmly consolidated its foundations in the health sector. The company has associated itself with eminent partners whilst expanding its scale of operations in sub-Saharan Africa. Recently, the firm acquired 22,81% of Hygeia Nigeria Ltd, one of the leading private healthcare providers in Nigeria. This particular acquisition was carried out with the collaboration of several investors, led by the International Finance Corporation (IFC), the Investment Funds for Health in Africa (IFHA-II) and SwissRe, an international reinsurance company.
In June 2015, CHL acquired a 90,10% stake in the International Medical Group, a large provider of healthcare services in Uganda. This represented the company’s first major investment in sub-Saharan Africa.
CHL’s development was heightened last December through capital injections and international organisational expertise, from DFIs such as the IFC and Proparco (a subsidiary of the Agence Française de Développement). These organisations now own 14,31% and 10,60% of CIEL Healthcare.
Recently, two private funds -
IFHA II and Kibo II - injected capital of 10,60% each into the company. “These capital contributions are essential to the development of a true network of medical services in the region, and the fact that such institutions invest in this sector supports the growing demand for quality services”, stated Alex Alexander, Managing Director of CIEL Healthcare Africa. CIEL Healthcare is bolstering along at an exponential growth rate.
CHL in Numbers