Written on July 4th, 2012
Aureos Capital, a leading small and mid-cap private equity fund manager specialising in global growth markets, today announced an investment in Clinique Biasa, a private hospital and clinic providing a wide range of medical services in Togo, West Africa.
The investment has been made by the Africa Health Fund, which is managed by Aureos Capital. The Fund’s objective is to enable low income Africans access to affordable, high quality health services while providing investors with strong long-term financial returns.
Aureos' US$1.7 million investment will enable Clinique Biasa to complete the financing of its modernisation and expansion plan which will cost approximately US$ 5 million. This will in turn increase the range of treatments and services offered to patients in Togo, while more than trebling the hospital’s bed capacity.
Clinique Biasa was founded in 1975 and is located in Togo’s capital, Lomé. It currently offers more than 15 speciality services ranging from general medicine, paediatrics and neurology to anaesthesiology and physical therapy to residents of Togo and its neighbouring countries. The hospital is one of Lomé’s top three private health facilities and makes a significant contribution to quality health provision in a country which has less than one hospital bed per thousand people. This compares to a global average of three hospital beds per thousand people.
Aureos raised a total of US$105 million for the Africa Health Fund, attracting cornerstone investors including the Bill & Melinda Gates Foundation, International Finance Corporation, African Development Bank and DEG, as well as a range of private sector investors.
Commenting on the investment, Kodjo Aziagbe, Partner of Aureos Francophone West Africa, said: “We are delighted to be supporting the expansion of the Clinique Biasa, one of the leading healthcare providers in Togo. As with all investments made by the Africa Health Fund, we are utilising our skills and experience as private equity investors to help build a high quality African healthcare company”.
Mr. Aziagbe continued, “The clinic is currently operating at full capacity which speaks volumes about its potential as an attractive investment and as a key healthcare service provider in Togo. Our investment will ensure modernization of the clinic’s existing facilities and the development of new and vital diagnostic services that will positively impact patient healthcare and well-being.”
Dr. Moise Fiadjoe, Managing Director of the Clinique Biasa said: “Through their diverse investments in the healthcare sector, Aureos have demonstrated a unique understanding of the challenges and opportunities facing healthcare businesses in Africa. I look forward to working with them to grow the clinic as both a business and as a key contributor to the healthcare landscape of Togo.”
“It is particularly exciting to be able to introduce cutting-edge services and equipment in the clinic. As well as meeting growing local demand for the highest quality of care, it also ensures that Clinique Biasa can play an important part in helping to reduce the brain drain of clinical talent that has seen locally trained doctors leave Togo to gain top-class clinical experience elsewhere”, Dr Fiadjoe added.
Clinique Biasa marks the Africa Health Fund’s sixth investment to date, with previous investments including the Nairobi Women’s Hospital, C&J Medicare Hospital in Ghana and Revital Healthcare, a Kenyan healthcare device company producing auto-disable hypodermic syringes.
AUREOS CAPITAL LIMITED
Aureos Capital is a private equity fund management company which specialises in providing expansion and buy-out capital to small and mid-cap businesses across Asia, Africa and Latin America.
Since its establishment in 2001, Aureos has increased its funds under management to US$ 1.3 billion and extended its geographical footprint to over 50 emerging markets covering Asia, Africa and Latin America, by establishing 17 regional private equity funds.
Aureos’ funds are managed through its network of more than 20 offices worldwide, by a team of over 90 investment professionals who combine world-class financial and operational expertise with unrivalled local knowledge and experience.
Investors in Aureos funds include institutional investors, bilateral and multilateral development finance institutions, pension funds, sovereign wealth funds, fund of funds, family offices and foundations and high net worth individuals.
Aureos is to be acquired by Abraaj Capital in July 2012. With the completion of the acquisition, the Abraaj Group, including Aureos, will have a presence in more than 30 countries across growth markets, over 150 investments managed by a dedicated team of investment professionals and approximately US$ 7.5 billion in assets under management.
Aureos Advisers Limited
Tel: +44 (0)20 7874 1887
Back to News