Hospital Holding Limited (HHL), led by the International Finance Corporation (IFC), is set to acquire a 54.23% stake in AAR healthcare in a deal worth KSh 1.5 billion. This comes after the Competition Authority of Kenya gave the acquisition a green light.
Other investors in the acquisition are Sweden’s State-owned investment company, Swedfund, and other private entities.
Earlier on in 2018, the IFC announced its plans to invest in Kenya’s healthcare sector through a KSh11 billion private equity fund. However, they did not disclose how much of the fund will be spent in Kenya.
Furthermore, in 2013, IFC made a KSh400 million equity investment in AAR Healthcare. By then, it only operated 28 clinics across East Africa.
AAR currently operates 40 primary care clinics in East Africa and a hospital in Uganda.