ACA INVESTS IN ULTRA-MODERN HOSPITAL AND TWO FEEDER CLINICS
December 4, 2017, Lagos, Nigeria – African Capital Alliance (ACA) today announced its investment in Santa Clara Limited, a joint venture established to develop a150-bed ultra-modern hospital and two 10-bed feeder clinics in Lagos, Nigeria. ACA is partnering with AXA Mansard Plc, the International Finance Corporation and Healthshare Limited on the deal, in a move that further consolidates its commitment to catalyze transformation in West Africa by collaborating with best in class partners to achieve strong returns.
Once completed, the Santa Clara hospital will be the largest private hospital in Nigeria and one of the few private facilities offering tertiary level care for complex procedures and treatments. The asset is expected to support the reversal of Nigeria’s estimated $1 billion medical tourism spend and will serve as a regional pull for many West-Africans in search of quality and affordable care closer to home. The asset will also generate several ancillary benefits to the Nigerian economy, including employment opportunities and skills development of health care professionals. The healthcare value-chain including the health insurance sector, whose current penetration constitutes of less than 10 percent of the population, will also receive a boost.
Commenting on the deal, Paul Kokoricha, Partner and Fund Manager at ACA, said: “We are excited to play a catalytic role in transforming the healthcare landscape in Nigeria by driving sustainable impact in the country’s consumer health sector and healthcare value-chain. We look forward to working with AXA Mansard, the key promoter of the project, and our other partners, to achieve superior results.”
About African Capital Alliance
African Capital Alliance (ACA) is a leading investment firm focused on Nigeria and the Sub-Saharan African region. Since its formation in 1997, ACA has attracted over $1 billion in aggregated capital commitments through four private equity funds and one real estate fund. ACA has made more than 40 investments across a number of high-growth sectors, including oil and gas, power, TMT, financial services, FMCG and business services.