The Metro Group Plc (TMG) has completed the acquisition of the Evercare Health Fund’s majority shareholding in Metropolitan Hospital Holdings Limited (MHHL), the holding company that owns Metropolitan Hospital and Ladnan Hospital.
The transaction will enable the Hospitals to continue on their growth trajectories while maintaining their commitment to delivering high-quality and accessible healthcare services in underserved communities. With the close of the transaction, TMG now assumes majority ownership of MHHL. Terms of the transaction were not disclosed.
Through Evercare and TMG’s investment over more than half of a decade, Metropolitan Hospital has seen extensive operational improvements and enhancements and has raised the bar for healthcare provision in Kenya.
The partnership resulted in Metropolitan Hospital achieving Level 5 Classification, accreditation by COHSASA and a Level F laboratory status among the highest level attainable by a hospital in Kenya, expanded bed capacity to 160, the introduction of modern modular theatres, a medical plaza that hosts over 40 consultants, and many other achievements.
As part of the transaction, the current Evercare Board representatives, Jide Olanrewaju, Dr Dumani Kula, Thomas Verghese, and Dr Lawrence Ndombi have stepped down from the board of MHHL and will be replaced by new directors from TMG.
Dr Kanyenje Gakombe, Founder and CEO of Metropolitan Hospital commented, “We are very proud of the success we have realized through our partnership with the Evercare Health Fund. As a leading healthcare provider in the country, we are now looking to the next phase in our strategy that will continue to enhance the country’s healthcare ecosystem for both patients and practitioners. Our goal is to offer world-class healthcare while developing local talent and increase access to quality, affordable care.”
Established in 1994, the Metropolitan Hospital employ over 350 staff and is equipped to handle complex to highly specialized cases that are backed up by 7 theatres, a 24-hour dialysis centre, a 14-bed adult ICU, 4 bed Neonatal ICU, 10-bed casualty receiving facility, a doctors plaza with over 40 consultants, among other services.
Metropolitan Hospital serves as the major tertiary care provider in the region. Of the approximately 300,000 patients served throughout Evercare’s investment period, the vast majority represent lower- and middle-income patients who had limited options for quality care.
The private healthcare sector in Kenya is a prominent contributor to healthcare outcomes in the country as it currently provides 52% of all healthcare services and will continue to play a bigger role in the future. Channelling private sector funding towards the healthcare sector is therefore key to filling gaps in patient care, especially among traditionally underserved communities. The private sector investment in healthcare helps alleviate the burden on local healthcare systems by supplementing both preventative and specialised care.