Largest private hospital in West Africa to be built in Accra
The $300 million financing was provided by New York-based private equity firm, Milost Global Inc., under the Mesa Fund 1, a global opportunity fund managed by the firm.
Eco Medical Village Limited, a Ghanaian investment firm, announced on Monday that it has signed a financing agreement of up to $300 million to build a state-of-the-art medical facility in Accra, Ghana. The financing will help the firm develop the Eco-Medical Hospital, a 500-ward (1,100 bed) international hospital complex.
The healthcare facility is conceived to be the largest private hospital in West Africa, which will serve the medical tourism needs of the sub-region. With the major facility in Accra, satellite units would be built in all the countries in the sub-region.
The financing was provided by New York-based private equity firm, Milost Global Inc., under the Mesa Fund 1, a global opportunity fund managed by the firm.
"We take this opportunity to thank our funding partners especially Milost Global Inc. for the confidence shown in this flagship project, the first amongst many, said Peter Ahiekpor, CEO, Eco Medical Village Limited. “Eco Medical Village aims to provide world class health facilities and services to the ECOWAS region.”
On his part, the President & CEO of Milost Global, Egerton Forster, said, "We are glad to have partnered Peter in [this] amazing opportunity and mostly that we have closed the financing and we are now looking forward to the next phase of the project, which is the IPO and the construction of the hospital in the next few months.”
Mandla J. Gwadiso, the Chief Investment Officer of Milost Global said that the Eco Medical Hospital will put Ghana on the same global landscape as any private healthcare facility in New York or London.
With more than $25 billion in committed capital, Milost Global also provides alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the globe including technology, transport, cannabis, education, distribution, mining, oil & gas, financial services, healthcare, pharmaceuticals, real estate, alternative energy and infrastructure development.
The Eco Medical Village transaction was advised by Palewater Advisory Group Inc, through its Johannesburg office.
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