Latest AAR Healthcare Holdings News
Feb 11, 2020
9 months ago EASTAFRICA – A consortium led by the International Finance Corporation (IFC) isset to acquire a 54.23 percent stake in AAR Healthcare Holdings , the operatorof hospitals and clinics in Kenya and other East Africa countries, reports BusinessDaily. TheCompetition Authority of Kenya (CAK) approved the proposed transaction whichwill cost the consortium, Hospital Holding Limited, more than US$15 million (KSh1.5billion). Theregulator says the buyout will not have a negative impact on competition in thelocal healthcare sector, noting that the consortium intends to make additionalinvestments in AAR besides retaining its current workforce. “Premised onthe above the, Authority approved the proposed acquisition of 54.23 percent ofissued shares from AAR Health Care Holdings Limited by Hospital Holding Limitedunconditionally,” CAK said in a notice. Besides IFC,Hospital Holding’s other investors include Sweden’s State-owned investmentcompany Swedfund and other private entities. The dealfollows IFC’s November 2019 announcement that it had partnered with privateinvestors to raise a total of US$115 million (KSh11.5 billion) to buysignificant stakes in health facilities in Kenya and Tanzania. IFC in 2013made an individual KSh400 million (US$4 million) equity investment in AARHealthcare when it operated 28 clinics across the three markets. IFC says itsinvestment in AAR is motivated by the growing trend towards private health carein Africa. “World BankGroup studies show that 50 percent of health expenditure in sub-Saharan Africa is financed by out-of-pocket payments from individuals,” IFC said. AAR is anoperational holding company which owns and operates 40 primary care clinics inEast Africa and a hospital in Uganda. AARcurrently operates 40 primary care clinics in East Africa and a hospital inUganda. It serves over 300,000 clients annually from across the social divide. In Kenya, itruns 21 primary outpatient healthcare clinics providing consultation,laboratory, pharmacy and basic radiology services, giving it a 0.6 percentmarket share in Kenya. AARHealthcare employs experienced medical and management staff and useinternationally approved disease management protocols and drug formularysupported by the state-of-the-art information technology systems to provideconsistent treatment for our clients from anywhere in East Africa. Related Posts
AAR Healthcare Holdings Frequently Asked Questions (FAQ)
When was AAR Healthcare Holdings founded?
AAR Healthcare Holdings was founded in 1984.
What is AAR Healthcare Holdings's latest funding round?
AAR Healthcare Holdings's latest funding round is Corporate Majority.
Who are the investors of AAR Healthcare Holdings?
Investors of AAR Healthcare Holdings include Hospital Holdings Investment.