Ascent acquires stake in Kenyan hospital

Proparco and Ascent Rift Valley Fund II, an East African private equity fund, announced the acquisition of a majority equity stake in Diani Beach Hospital Limited (DBH), the leading healthcare provider on Kenya’s South Coast.

Founded as a 10-bed private hospital in 1997, Diani Beach Hospital is today the largest private healthcare facility in Kwale County, with more than 120 beds across four sites. DBH has been a pioneer in offering quality and affordable medical services across the entire South Coast of Kenya. It is the reference private hospital locally, working with key local and international insurers, parastatals and corporations.

Together with DBH’s founder, Dr Kawaljeet Singh Rekhi, Ascent Capital and Proparco will continue to grow and strengthen the business – thereby expanding healthcare provision and improving quality of care in an underserved part of Kenya.

Lucas Kranck, managing partner at Ascent Capital Advisory Services LLP commented, “We are very excited about the fund’s investment into Diani Beach Hospital. The work done by Dr Rekhi and his team to create and grow the leading hospital on the South Coast of Kenya has been exceptional and we are very proud to be part of the journey going forward. We look forward to working with Dr Rekhi and the hospital management and staff to expand regionally and offer additional services to the hospital’s clients.”

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