TPG-backed Healthcare Group Secures Financing from IFC.
On April 25, 2023, in Nairobi, Kenya—IFC announced an investment in Kenyan healthcare provider Avenue Group Limited. The funding will assist the business’s five-year plan to expand its patient base and healthcare offerings by 20% nationwide.
Avenue will be able to extend its primary care footprint and enhance its secondary and tertiary capabilities thanks to the $12.7 million loan from IFC. Avenue will also be able to create new healthcare facilities and renovate current hospitals and clinics.
Avenue, a member of the Evercare Group, a comprehensive healthcare delivery platform in emerging countries throughout Africa and South Asia, including India, Pakistan, Bangladesh, Kenya, and Nigeria, currently sees more than 430,000 patients annually. Avenue and IFC share a dedication to expanding access to high quality healthcare in Kenya and driving continuous improvement in our facilities, technology, and delivery of services across the healthcare continuum.
Avenue’s five new clinics, adding to the existing thirteen, will be integrated with the group’s three secondary and tertiary hospitals across Kenya, allowing doctors to seamlessly refer patients to receive more advanced medical care where needed across its platform.