Milost Global, a New York-based private equity firm with $25 billion in committed capital, agreed to make its first investment in Ghana last week, agreeing a $300 million deal with Eco Medical Village to develop West Africa’s largest private hospital in Accra. The financing will be made up of $100 million in equity and $200 million in debt, the latter bearing an annual interest rate of 5%, payable quarterly in cash.
The funds will be used to support the development and construction of Eco-Medical Hospital, a 380-ward/700-bed facility, which, once complete, will serve West Africa’s upper and middle class consumers. Currently, this market segment seeks medical treatment outside Africa. In addition to the main hospital in Accra, Eco Medical plans to establish affiliated satellite units in each of the countries in the West African sub region.
The funds will be used to support the development and construction of Eco-Medical Hospital, a 380-ward/700-bed facility, which, once complete, will serve West Africa’s upper and middle class consumers. Currently, this market segment seeks medical treatment outside Africa. In addition to the main hospital in Accra, Eco Medical plans to establish affiliated satellite units in each of the countries in the West African sub region.
