American Pharmaceutical Firm Buys This Kenyan Hospital

By  |  August 5, 2019

American multinational company, Johnson& Johnson has partnered with various Private Equity firms to acquire Naivasha-based, South Lake Medical Centre at a deal valued at KSh 100 Million.

It has teamed up with South Africa’s Inqo Investments Limited and London-based Sumerian Partners.

The New York Stock Exchange (NYSE)-listed firm invested in the hospital through its social impact fund, it deals in medical devices, pharmaceutical, and consumer goods

The Naivasha based hospital was previously acquired from Flamingo Horticulture Ltd which had set it up to serve low-income farmworkers in the region.

“Participating alongside Inqo in this round are Johnson & Johnson’s social impact fund and Sumerian Partners. A total investment of $950,000 (Sh98 million) between the three parties will be made in a combination of equity and soft loans,” Inqo, stated in the latest trading update.

Cross-Border Money Transfer In Africa: Is Bitcoin The Golden Silver Bullet?

 image

The hospital receives around 64,000 patients per year and it is estimated to have a capacity of treating up to 192,000 patients.

In 2017, the American pharmaceutical firm launched operations in Africa and it opened a Nairobi office which is meant to coordinate the company’s global public health capabilities and resources to deliver sustainable, measurable impact in the region. 

FeaturedImageCourtesy: Twitter

Journalism is broken in Africa


Help us build a narrative on African Business, Startups, Tech and Economy
Join us today to empower great story telling, one story at a time

Monthly Membership

$10

(billed monthly)

Access To 1 Month WT Membership

Access To Premium Newsletters For 1 Month

1 Month Access To WT's Content Archive

Access To WT's Conferences & Events

Access To All WT's Research Reports On Africa

Access To Podcasts, Video Content & Recordings

Subscribe Now
Popular

Annual Membership

$60

(billed annually)

Access To 12-Month WT Membership

Access To WT's Conferences & Events

Access To All WT's Research Reports On Africa

Access To Podcasts, Video Content & Recordings

Access To All Premium Newsletters

Unlimited Access To WT's Content Archive

Subscribe Now

If you are a Corporate or a Student, please reach out to us for subscription at [email protected]