The US International Development Finance Corporation (DFC) has lent $5 million to Africa Healthcare Network (AHN), the largest operator of dialysis centres in East Africa.
“This investment in AHN will expand access to affordable, high-quality healthcare across Sub-Saharan Africa through its operation of lifesaving dialysis centers,” said Algene Sajery, DFC’s vice president of the Office of External Affairs and head of Global Gender Equity Initiatives.
The coronavirus pandemic has caused disruptions to health services worldwide and has impacted the ability for countries to address and respond to non-communicable diseases. Those living with diseases such as chronic kidney problem are at an increased risk of becoming severely ill with COVID-19.
Independent studies estimate there are over 1 million patients with kidney diseases in Sub-Saharan Africa requiring dialysis and the region requires over 50 times the current number of centres to meet the demand, DFC said. This financing will help cater to a part of the requirement, it added.
AHN is the largest dialysis services provider in East Africa with 18 centres in Kenya, Tanzania, and Rwanda. DFC’s funding will allow AHN to support growth throughout Sub-Saharan Africa as it continues to build and operate additional dialysis centres through partnerships with leading hospitals in the region.
The company was founded in 2015 by Nikhil Lawrence Pereira-Kamath (CEO) and Lloyd Vincent (chief medical officer).
Kamath was earlier in the private equity industry as an associate at Berkshire Partners, a Boston-based investment firm where he was involved in several large deals and was also a member of a core investment team that focuses on smart healthcare. Prior to joining Berkshire, he was an analyst at Morgan Stanley in the healthcare group where he focused primarily on biopharmaceuticals and healthcare services.
He has also worked at Oxford Bioscience Partners as a research analyst, covering portfolio company FlowMedica.
Kamath has previously run a non-profit Youth That Care, which established dialysis centres across India and the first dialysis centre in Burundi.
Before starting AHN, Vincent was a senior consultant nephrologist and clinical director of the dialysis services at the Narayana Hrudayalaya Hospitals and satellite centres in Bengaluru.