Home / Investment / IFC, Investment group provide $5.7m support to New Crystal Health Services

IFC, Investment group provide $5.7m support to New Crystal Health Services

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Leading private medical facility, New Crystal Health Services (NCHS), has secured a capital injection of approximately $5.7 million, as it seeks to take provision of quality healthcare services a notch higher.

The capital injection comprises a loan of $2.5 million from International Finance Corporation (IFC), the private sector arm of the World Bank and equity of €3 million from impact investment group, Investisseurs & Partenaires (I&P) with headquarters in France.

NCHS becomes the first healthcare provider in Ghana to secure a credit facility from the IFC in Ghana and has several times been the highest rated health service provider in the Ghana Club 100 rankings over the years.

The investments from both institutions will help NCHS upgrade its existing network of hospitals, add new facilities in the fast-growing suburbs of Ashaiman and Tema in the Greater Accra region, as well as broaden its diagnostic services.

Speaking in an interview, Dr Wisdom Amegbletor, the Chief Executive Officer of NCHS, said  the funds secured from the IFC and I&P will further upgrade the facilities to become centres of excellence in the delivery of general care, “by using modern equipment operated by skilled staff in a patient-friendly environment”.

He described the investments as timely and commended the IFC and I&P for believing in the brand and its vision.

He said with the COVID-19 pandemic and the predictions that they could be many more pandemics in the future, expanding NCHS to provide additional services, could not have come at a better time.

Dr Amegbletor said “NCHS will function as a one-stop-shop for patients requiring general inpatient or outpatient services by offering a comprehensive package of services including prevention, screening, diagnostics and treatment”.

The new investment will significantly enhance the infrastructure and service delivery of the health service company.

The funds will be used to put up completely new and ultra-modern hospitals in Ashaiman and Tema. Other facilities at Michel Camp, Adjei Kojo and Afenyo, all within the Ashaiman and Tema enclave will receive significant facelift.

NCHS started operations in 2003 with a small healthcare facility in Ashaiman. Since then, the healthcare service provider has experienced a tremendous growth and currently operates seven networked branches in Greater Accra and Western regions.

Source: GNA

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