DBH operates a hospital in Diani Beach with three satellite clinics in Kwale Town, Likoni Town, and Ukunda Town. The financial details of the deal were not immediately disclosed. Ascent will be seeking to take up an 80% stake in its first major healthcare deal. This is according to a regulatory filing provided by the Common Market for Eastern and Southern Africa (Comesa) Competition Commission where the parties are seeking clearance.
“The parties said that the proposed transaction entails that Ascent DBH will acquire up to 80% of the entire issued share capital in DBH.
Ascent Capital last year raised $100 million (Sh10.7 billion) from the World Bank and top sovereign funds for acquiring stakes in companies across Eastern Africa.
Ascent said then it will invest between Sh537 million and Sh2.1 billion in firms across growth sectors like financial services, manufacturing, trade, education, and health sectors in Kenya, Ethiopia, Uganda, Tanzania, and Rwanda. It seeks to acquire majority or significant minority ownership in the targeted companies, suggesting it is aiming to have a say in the firms’ boardrooms.
“We are looking and have seen interesting opportunities. The market is still there for investors chasing a return and funds are available for businesses that are looking for equity partners to work with them,” Mr Owino said last month.
