Rwanda’s AHN secures integral funding for its Africa expansion strategy
Rwandan based Africa Healthcare Network (AHN), which runs the largest chain of kidney care & dialysis centres across East Africa, has announced it has secured funding to expand its foothold in Kenya and Tanzania, as well to buttress its aggressive expansion plans over the next two years – into West and Southern Africa.
The network has closed its Series A funding round from Africa Healthcare Fund/Asia Africa Investment & Consulting Pte Ltd (AAIC), an Africa focused healthcare investment firm, and its traditional investor – Polaris Partners (Polaris), a leading global venture capital firm.
AHN is currently the largest provider of dialysis and kidney services across East Africa, with outlets stationed in Rwanda, Kenya and Tanzania. It currently runs 8 centres across Rwanda and Tanzania, within key cities, comprising Kigali, Gisenyi, Dar es Salaam, Mwanza and Arusha. Furthermore, fifteen additional centres are expected to be established by the end of the year (2019). AHN further plans to expand its presence across all Tier I and Tier II cities in Kenya and Tanzania, inclusive of its ambitious strategy of entering the Western and Southern African markets.
“Our plan is to open over 100 dialysis centres over the next five years as we focus on bringing high quality, affordable kidney care to Sub-Saharan Africa. Our mission is to increase access to and raise awareness of the disease across the region, including prevention, management and treatment options,” said Nikhil Pereira-Kamath, AHN’s CEO.
Reducing Health Care costs in East Africa
The organisation operates dialysis units in government hospitals, private and faith-based hospitals, as well as stand-alone dialysis centres. It also has in place, PPP partnerships with the Government of Rwanda, an MOU with the Government of Tanzania, together with an array of strategic partnerships with some of the largest hospital ecosystems across East Africa.
“AHN is an outstanding and sustainable dialysis service provider. Patients are warmly treated and respected in all manners from the time they enter its facilities, up to and beyond the completion of their dialysis session, with its human centred approach. Each patient is comfortable, cared for and treated with respect. This is only achieved through collective efforts by the AHN team and its hospital partners. We are grateful to be part of this journey and intend to provide any support when necessary.” Shigeru Handa, Director of AAIC and recent addition to AHN’s Board of Directors, stated.
AHN was founded by Nikhil Pereira-Kamath, Dr. Lloyd Vincent and Dr. Brian Pereira, and is led by a management team that boasts of a combined 100 years of operational and clinical expertise in the industry.
“We could not be happier to welcome AAIC into the AHN family and appreciate the continued support of Polaris. We believe AAIC’s expanding footprint of healthcare investments in the region will position us well across the Sub-Saharan sub-Continent. This capital raise and partnership will position AHN well to continue delivering high quality dialysis and renal care at a growing scale,” said Dr. Brian Pereira, Chairman of the Board.
The company’s core mission is to increase access to and reduce the cost of kidney care within the region. It aims to accomplish this overriding agenda through the improvement of operational efficiencies, in conjunction with leveraging economies of scale, to buttress its continued growth.
In addition to the equity funding, AHN will be raising additional debt to fund its expansion plans and continue to shore up its country-level capital structures. With the close of this transaction, AHN’s investor base encompasses Africa Healthcare Fund/Asia Africa Investment & Consulting Pte Ltd, Polaris Partners and Flint Atlantic Capital Partners.
Source: ASV & The Exchange.