TLG Capital, a frontier market fund, becomes the largest shareholder in the Swedish Ghana Medical Centre (SGMC), a private health care provider located in Ghana. SGMC plans to offer state-of-the-art cancer care services to the entire west Africa region with the development of a US$40m ‘centre of excellence’ in two phases.
The first phase includes the provision of a basic cancer care unit with radiotherapy based on linear accelerator treatment, diagnostic and outpatient services. At a later stage, SGMC is expected to provide advanced radiotherapy and Gamma Knife treatment for the brain with the capability of treating more advanced cancers. The facility will begin treating patients in 1Q10. TLG Capital is the largest shareholder in SGMC in a total deal size of over US$15m in the first phase.
Partners in this project include Scandinavian Care, Swedfund, Elekta, and Fidelity Equity Fund II.
This is TLG Capital’s second investment in healthcare in Africa following on from its investment in Quality Chemical Industry, the first pharmaceutical company manufacturing antiretroviral (ARVs) and anti-malarial drugs in Africa.
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