Rx Healthcare Fund, a private African direct investment fund under establishment, announced that GE Healthcare, provider of transformational medical technologies and services, joined the list of the fund’s partners.
This came after the African Development Bank’s (AfDB) earlier decision to invest in the fund.
Rx Healthcare Fund, is led by former Egyptian Minister of Health Hatem El Gabaly and managed by a newly setup fund manager and EFG Hermes.
In the same context, El Gabaly, said that the importance of the fund partners is far beyond the financial investments.
On the other hand, he explained that the added value of the fund partners is to bring knowledge of industry and geography to many of the fund’s target markets.
Moreover, El Gabaly added that the healthcare sector in Africa is characterised by many attractive elements,such as the high rate of return on investments compared to the level of potential risks, as well as being one of the vital sectors and rich investment opportunities that positively effect the economic development.
In another context, he stressed that the fund will focus its strategy within Africa, such as in Tunisia, Morocco, Kenya, Nigeria, and Ethiopia.
On the other hand, President and CEO of GE Healthcare Africa Farid Fezoua said the access to long term financing is the cornerstone for sustainable healthcare development in Africa.
The fund aims to meet the growing demand for high-quality healthcare services across North Africa and sub-Saharan Africa through investing in potential high-growth entities in three key aspects: specialised hospitals, medical diagnostics, and pharmaceuticals.
In the same context, African markets have enormous potential for economic growth. They offer significant opportunities for private healthcare companies to invest in this market.