AfricInvest announces partnership with Kenyan healthcare group
AfricInvest – a pan-African asset management platform covering private equity, venture capital and private credit – has entered into a strategic partnership with Ruai Family Hospital Limited (trading as RFH Healthcare) through a facility provided by its debt vehicle, AfricInvest Private Credit (APC).
RFH Healthcare is backed by RFH Specialist Hospital, one of only twelve Level 5 facilities in Nairobi, and the only one in East of Nairobi. From humble beginnings in 2011 as an outpatient clinic in a one-bedroom apartment, the hospital – incorporated as Ruai Family Hospital Limited in 2012 – increased the scope of its services to include in-patient services starting with five beds. Today, the chain, which includes eight facilities, boasts services ranging from primary outpatient to highly-specialised and critical care services.
Speaking on the new partnership, RFH Healthcare CEO and founder, Dr Maxwel Okoth, noted that it could not have come at a better time. “We are glad to welcome an experienced and like-minded investor such as AfricInvest. RFH Healthcare is on an expansion phase that will see us set a lasting footprint on Universal Healthcare that is part of Kenya’s Big Four Agenda.”
The new financing will be used to expand the chain of hospitals to many other locations across the country, as well as to solidify the group’s working capital position. The hospitals already serve at least 100,000 patients per annum – ranging from premium clients to those who rely on the National Hospital Insurance Fund (NHIF) comprehensively. NHIF is the country’s basic insurance plan.
APC’s funding of RFH Healthcare marks the first time that AfricInvest has directly partnered with a hospital in Kenya. “AfricInvest Private Credit is pleased to offer the relevant financing in this transaction, increasing its healthcare footprint in East Africa. We are glad to participate in the continuous success of RFH, which offers affordable quality healthcare services with a great impact in Kenya,” said Samia Tnani, head of credit and origination at AfricInvest Private Credit.
RFH was advised in this transaction by NeoBridge.
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