Eos Capital acquires stake in Erongo Medical Group
By Business Reporter
EOS Capital, the leading Namibian private equity firm, has announced that it will acquire a minority stake in Erongo Medical Group (Pty) Ltd (EMG).
EMG is a substantial player in the Namibian healthcare industry with Welwitschia Hospital in Walvis Bay, a world class acute hospital, as its flagship.
EMG’s other subsidiaries, at varying ownership stakes include Erongo Radiology, a leading radiology and telemedicine provider, Ongwediva Medipark, a state-of-the-art private hospital located in Ongwediva providing quality and affordable healthcare as well as Medixx Occupational Health Services, which addresses the occupational healthcare needs of employees of mines, fishing companies and other large industrial players across the country.
Matthias Braune, EMG CEO, stated: “EMG is excited to have Eos Capital as a partner as we see them adding value by providing strategic and transaction advisory support to enable the group to grow organically and inorganically, thereby building a scaled regional healthcare company.”
This sentiment was echoed by Ekkehard Friedrich, Eos Capital partner leading the transaction who added: “What really convinced us is how management and the hospital staff pulled together to handle the outbreak of the Covid-19 virus. Even before the virus hit our shores, they had made contact with global experts, put special procedures in place to protect staff and patients alike, and set up separate ICUs and wards to curb the spread of the virus. Due to this preparedness, the hospital still boasts a high recovery rate of Covid patients and records low Covid death rates. We look forward to building on this foundation and strengthening the healthcare sector in Namibia.”
EMG is a leading Namibian Walvis Bay-based private healthcare group, which initially started out as a radiology centre in Walvis Bay in 1998.
Welwitschia Hospital has now grown into a sophisticated medical facility that caters to the growing demands of Walvis Bay’s urban community. The hospital has always been at the forefront of innovative development as they initiated the first Lung Clinic in Namibia and installed the first Low-Dose CT scanner in Africa. They are also a certified nurse training facility and are currently in the process of finalising academic accreditation. Welwitschia Hospital played a leading role in the early days of the Covid-19 pandemic and still demonstrates a high recovery rate of patients that are admitted with severe Covid-19.
Eos Capital is a Namibian private equity fund manager who manages the Allegrow Fund, the Namibia Infrastructure Development and Investment Fund (NIDIF) and the Euphrates Agri Fund.