13-May-19, Business Daily Africa
US private equity group TPG has signed a deal to take over and manage Abraaj’s $1 billion (about Sh101 billion) healthcare fund offering relief for the Kenyan medical outlets where the fund had pumped in billions of shillings.
%20NMG.jpg "Hospitals up for takeover after scandal at Abraaj (c) NMG")
Image: NMG
TPG Growth, the group’s mid-market buyout arm, said it would take over the existing assets of Abraaj’s Growth Markets Health Fund, renaming it The Evercare Health Fund. Financial terms of the deal were not disclosed.
Abraaj’s health fund Kenyan portfolio is made up of 18 clinics and 10 hospitals that provide over 700 patient beds. The fund has invested in Nairobi Women’s Hospital, Avenue Hospital, Metropolitan Hospital, and Ladnan Hospital.