Zoscales Partners makes first investment in Ethiopia's healthcare sector
Zoscales Partners has made an investment into Pioneer Diagnostics Center (PDC), a diagnostic imaging service provider in Ethiopia.
Fredd Kambo, the principal who led the deal for the East African private equity firm said, “Ethiopia currently has the lowest penetration of diagnostic imaging capacity per capita in East Africa. The demand for diagnostic services is growing due to the increasing population, health consciousness, life expectancy rates and incidents of non-communicable diseases like heart disease, stroke, cancer, and diabetes. The Covid-19 pandemic further demonstrates the need for investment in healthcare, and it is of vital importance that the private sector plays its part in provision of services.”
PDC has shown solid growth over the past few years and Zoscales is excited to build on its strong market position. The demand for healthcare services is high in Ethiopia and there is a need for additional capacity and therefore strong potential for growth.
“We are partnering with a leader in the sector in Ethiopia, PDC founder and CEO, Brook Fekadu, to increase capacity and capture the growth opportunities in the market. Brook was the first to introduce an MRI to the private sector in Ethiopia and has led the company in its growth over the recent years,” says Jacop Rentschler, managing partner at Zoscales.
"The state-of-the-art equipment and software that we will acquire due to the investment from Zoscales Partners will significantly improve the quality of images and reports we produce. In addition, we expect an increase in the number of patients that have access to our imaging services and the ability to conduct new investigations that we currently cannot perform. Our patients will be able to get the same standard of services they would expect from imaging centres in Europe and North America," commented the company’s founder and CEO, Brook Fekadu.
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