Flint Atlantic Makes Pioneer Investment In Africa Healthcare Network
Flint Atlantic Capital Partners (Flint Atlantic) recently made its pioneer investment into Africa Healthcare Network (AHN), the largest dialysis and kidney care services chain in Rwanda. The investment was made jointly with US-based Polaris Partners (Polaris), a leading global healthcare venture capital firm and will help to fund AHN’s expansion in Rwanda and across Africa over the next two years.
AHN operates dialysis units in government hospitals as well as stand-alone centers and has already achieved several laudable feats, including signing the first PublicPrivate Partnership with a district hospital in the history of Rwanda in April 2016.
“Our plan is to open over 20 dialysis centers in the next two to three years as we focus on bringing high quality, affordable kidney care to sub-Saharan Africa. Our mission is to increase access to treatment and raise awareness of kidney illnesses across the region,” Nikhil Pereira-Kamath, AHN CEO and Co-Founder explained.
The dialysis market across Africa is highly under-penetrated and characterized by fragmentation with limited access for most people. As concurrent demographic and epidemiological changes that increase the prevalence of Chronic Kidney Disease (CKD) occur, the demand for such services is expected to increase. CKD is the leading condition that necessitates dialysis services. Within this context, AHN is uniquely positioned to become a regional dialysis services leader, given its execution capabilities, competitive costs, and competent management team.
Speaking of the investment, Dr. Kelechi Ohiri, Managing Partner at Flint Atlantic, stated, “This deal demonstrates our commitment to increasing the access to and quality of health care, particularly for underserved segments of the population. Together with AHN management and Polaris, we are excited to continue delivering social impact and are currently exploring other potential markets such as Nigeria and Tanzania where there are strong fundamentals and significant need for dialysis and kidney care services.”
Flint Atlantic is excited to partner with Polaris Partners on this deal, as this marks the first foray of the US firm into sub-Saharan Africa. Flint Atlantic will continue to execute investments in innovative and disruptive healthcare businesses across the region in a bid to create scalable and sustainable companies delivering measurable social impact.