Healthcare provider Africa Healthcare Network (AHN) has announced the closure of Series A funding. It has raised an undisclosed amount of funding from Africa Healthcare Fund / Asia Africa Investment & Consulting Pte Ltd (AAIC), an African healthcare investment firm.
An existing investor, Polaris Partners, a global venture capital firm also took part in the funding. The investment will enable AHN to expand their services in Tanzania, following its recent entry into Kenya, and further expand to West and Southern Africa in the next two years.
Founded in June 2015 by Nikhil Pereira-Kamath, Dr. Lloyd Vincent and Dr. Brian Pereira, AHN operates dialysis units in government hospitals, private and faith-based hospitals as well as stand-alone dialysis centers across East Africa, based in Rwanda, Kenya and Tanzania.
Currently, it has 8 centers across Rwanda and Tanzania with a presence in cities such as Kigali, Gisenyi, Dar es Salaam, Mwanza and Arusha. It anticipates to add 15 more centers by year end of 2019.
“Our plan is to open over 100 dialysis centres over the next five years as we focus on bringing high quality, affordable kidney care to sub-Saharan Africa. Our mission is to increase access to and raise awareness of the disease across the region, including prevention, management and treatment options,” said AHN chief executive Nikhil Pereira-Kamath.
“We could not be happier to welcome AAIC into the AHN family and appreciate the continued support of Polaris. We believe AAIC’s expanding footprint of healthcare investments in the region will position us well across the sub-Saharan sub-Continent. This capital raise and partnership will position AHN well to continue delivering high quality dialysis and renal care at a growing scale” said Dr. Brian Pereira, Chairman of the Board.
In addition to the equity funding, AHN will be raising additional debt to fund its expansion and continue to shore up its country-level capital structures. With the close of this transaction, AHN’s investor base includes Africa Healthcare Fund / Asia Africa Investment & Consulting Pte Ltd, Polaris Partners and Flint Atlantic Capital Partners.
The company holds PPPs with the Government of Rwanda, an MOU with the Government of Tanzania and strategic partnerships with some of the largest hospital systems in East Africa.
Featured Image Courtesy: Africa Healthcare Network