Africa Healthcare Network secures $20mln for expansion

PHOTO

Africa Healthcare Network (AHN) has secured $20 million in equity and debt funding from a consortium of investors led by two African institutions, Africa50 and AfricInvest.

The other institution is Tokyo-based Ohara Pharmaceutical Co Ltd.

The funding will be used to bolster AHN’s accelerated Pan-African growth and expansion as well as address significant gaps in the availability of high quality, affordable renal care across the continent.

Africa50, which led the equity funding, invests in high-impact, high-growth businesses and projects across the continent.

AfricInvest, a Pan-African investment platform, provided debt financing through its Transform Health Fund (THF)."With the support of Africa50 and AfricInvest, we are well-positioned to make a dramatic impact in the fight against kidney disease and improve the overall healthcare landscape in Africa," said Matt Williams, AHN’s chief executive in a statement on Wednesday.

The investment will enable AHN to expand access to care, enhance technology and disease prevention, strengthen its healthcare workforce and maximise development impact and sustainability.“This partnership is aligned with Africa50’s strategic focus on healthcare, a sector which can deliver both positive impact and attractive investment returns,” said Raza Hasnani, the managing director and head of Infrastructure Investments at Africa50.

AHN, a provider of dialysis in Africa, has 45 clinics and plans to enter underserved regions to expand access to life-saving treatment.