Zoscales Partners is pleased to announce its commitment to invest into Premier Hospital, marking its second healthcare deal in East Africa and sixth investment in Zoscales Fund I. Premier Hospital is a secondary private hospital located in Mombasa, Kenya, with a proven reputation for efficiency, service, and high-quality emergency, outpatient and inpatient care. The transaction, which is subject to Competition Authority of Kenya and other statutory approvals, is expected to close before the end of the year.
“In Premier Hospital, we will be privileged to have the opportunity to back a team that has shown total dedication to excellence in healthcare provision. The organization is at the forefront of providing high-quality, affordable care, and as we embark on this partnership, we will seek to develop more sophisticated specializations to serve patients across East Africa. Through this investment, we hope to play a meaningful part in addressing the objectives for SDG 3,” says Partner Fredd Kambo who led the deal.
Since the start of the pandemic in 2020, East Africa’s healthcare systems have been overwhelmed. Zoscales therefore believes that now is the opportune time to invest in this sector and support those who have been at the frontline during these challenging times. Using its industry knowledge and local expertise, Zoscales’ Kenya team plan to work alongside management and current shareholders to support Premier Hospital’s new phase of expansion, with the ambition to develop a healthcare platform to become one of East Africa’s largest private hospital operators. Crucially, this investment will also expand healthcare access to low- and middle-income individuals, thereby promoting more inclusive healthcare access for both the COVID and post-COVID world.
According to Dr Fardosa Ahmed, Founder and Director of Premier Hospital, “We are excited to engage in this partnership with Zoscales Partners. In Zoscales, we have found a team that not only can provide capital, but one that is committed also to operational excellence, the highest standards of clinical quality, and a commitment to making a real difference in the provision of East African healthcare.” For more information about the transaction, please contact Zoscales Partners at info@zoscales.com.
Nairobi, September 2021. “As we sign these agreements today, I want us to all to remember that it is not just about the financing we will receive, we are all here to do good. Enabling hospitals to treat more people and offer more services is doing good for humanity. That is what we are all here to do.” says Chairman Ahmed Abdulle Noor.
About Zoscales Partners
Established in 2014, Zoscales Partners is an award-winning private equity firm with offices in Nairobi, Addis Ababa and Zurich. The $75m Zoscales Fund I was launched in 2017 and invests with impact in East African SMEs within healthcare, FMCG, materials and others. Zoscales was one of the first and only private equity investors with a full-time presence in East Africa using an “operating partner model” that integrates successful local entrepreneurs into the investment strategy. This ensures an active involvement in portfolio operations and a deep knowledge of the local business environments. Zoscales Fund II will launch in 2022.
About Premier Hospital
Established in 2017, Premier Hospital is a leading healthcare provider in Kenya. The business is located along Links Road, Nyali Area in Mombasa County with a population of 1.2 million, which is the second most populous city in Kenya. The business is rated highly in its mid-tier category. This is backed by a well-established presence, its top-tier physicians, a variety of clinical services including paediatrics, obstetrics and gynaecology, orthopaedics and emergency services, consistent clinical capabilities and excellent customer care developed by the management team. The hospital has attained SafeCare accreditation. For more information about the hospital, please visit https://premierhospital.org.
For this transaction, Zoscales Partners received legal advisory services from Asafo & Co.
AfriNova Consulting Limited and Capital Law Group advised Premier Hospital on the transaction.