March 21, 2018

IFC mulls $2.75m loan to African Medical Technology Firm

Dolapo Omidire

The International Finance Corporation (IFC), a member of the World Bank Group, is considering a $2.75m investment in Trivitron Healthcare Africa B.V. (THA), a new medical technology company focused on the African continent. THA was launched earlier in the year by Trivitron Healthcare Private Limited, India’s leading medical technology company, together with the Investment Funds for Health in Africa (IFHA), a leading private equity investor in the healthcare sector in Africa. It will provide high-quality medical devices and instruments with reliable after-sales service support across Africa to improve access and affordability of medical equipment across the continent.

The IFC is proposing to provide THA with a $2.75mm loan to complement the $7.25mm of equity being provided by IFHA-II and Trivitron. The IFC published its intention to consider and potentially invest in this project as part of their Access to Information Policy (AIP), which seeks to provide accurate and timely information to its clients, partners and stakeholders.

During its first phase of operations, THA will be headquartered in Dubai, United Arab Emirates, with a direct presence and sales and service infrastructure in four major hubs: Nairobi, Kenya; Johannesburg, South Africa; Lagos, Nigeria and Algiers, Algeria.

The company’s initial offering will include a complete range of products and after-sales service support in laboratory medicine, medical imaging, critical care, operating room and renal care.  They will not only distribute and support products manufactured by Trivitron in their nine USFDA, CE certified factories in India, Finland, and Turkey; but it will also distribute and support products from other leading multinational corporations.

In addition, THA will have an exclusive Projects division capable of executing turnkey hospital projects in the African continent. The company is already working with a leading healthcare group in East Africa to support the design and equipping of its new flagship hospital in Nairobi, Kenya.

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