Aureos Capital has invested $4.5 million in Ghana- based healthcare provider C & J Medicare to finance the company’s expansion strategy.
The investment is expected to enable C & J to establish a second clinic in Accra which will provide specialist in psychiatric care, cancer screening and cardiology. Approximately, $2 million of the funding will be used to purchase medical equipment and the recruit new staff. C & J’s also plans to expand its offerings into other cities across Ghana.
Aureos structured the deal through its $100million African Health Fund. The fund previously committed $2.66 to Nairobi Women’s Hospital, in 2010.
“This investment will ensure that C&J Medicare can extend their successful model, initially within Accra, and eventually across Ghana,” said Jacob Kholi, managing partner at Aureos. “We believe the investment will deliver both strong returns to our investors, and put up-to-date treatments and diagnostic techniques within the reach of more and more ordinary Ghanaians.”
Based in Accra, C & J Medicare specialises in the provision of corporate medical packages. The company currently offers services to 100 companies, including Coca-Cola and Pioneer Food Cannery. C & J also participates in free health screening projects across the country.
Article by Patrick Surlis, Reporter, Private Equity Africa