The Project
Overview
Bloomflora ventures is establishing a new independent network of hospitals across major cities, primarily on the African continent. This is with the support of key local partners and international best-in-class construction and healthcare management/ operational support. Currently identified site-specific locations for roll-out include Kenya (Nairobi), Tanzania (Dar Es Salaam), Nigeria (Abuja), Ghana (Accra), DR Congo (Kinshasa); further initiatives are being quickly extended to Rwanda (Kigali), Nigeria (Lagos), Uganda (Kampala) and Morocco (Casablanca and Marrakech).
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Additionally, the network will be expanded through further regional opportunities that are continuously being evaluated. These currently include further hospitals in Kenya (Nairobi and Mombasa), Mauritius, Cameroon, Ivory Coast, Senegal, Zambia
Bloomflora ventures aims to create a sizeable healthcare entity across Africa. Multiple locations will be progressed at the same time: the roll-out is planned across different countries, all of which have a significant lack of healthcare while at the same time having an adequate propensity to spend on healthcare services. The project is to be established in the shortest time possible.
Market Need
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The African healthcare landscape is characterised by low overall spending and a high out-of-pocket component compared to global standards
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There is a significant lag in the supply of adequate medical facilities and infrastructure across Sub-Saharan African countries in comparison to a developing country like India
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The African region has one of the lowest number of hospital beds and physicians per person
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Sub-Saharan Africa accounts for approx. 12% of the world population yet bears approx. a quarter of the world’s disease burden
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Infant mortality rates are very high and life expectancy rates are low
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At the same time, Sub-Saharan Africa is one of the fastest growing regions globally in terms of GDP and private healthcare spend per capita. The general growth in healthcare spending indicates higher health awareness and a willingness to spend on better medical services
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There is a high percentage of out-of-pocket spending: driven by growing disposable incomes, a greater awareness of the requirement for better healthcare and poor insurance coverage
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Outward-bound medical tourism is a multi-billion dollar market: the number of patients from the continent engaging in medical tourism, opting to pay more for better quality healthcare services which are lacking domestically, is substantial and increasing
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The demand for medical services is fuelled by dramatic populaiton growth. Africa’s population is expected to double from 1.2 billion in 30 years’ time. Some cities are expected to experience a doubling of population in about 15 years
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Private players who offer a high-quality product to international standards at the right price-point are well-positioned to leverage this opportunity
Project Description
A standard 300 bed multi-specialty tertiary-care hospital template has been determined and designed; these are to be established in the key targeted cities.
Further, single-discipline hospitals are also planned in different parts of the continent to serve as apex-level Centres of Excellence for the entire region.
Local partners have been, and continue to be, identified in each country – these partners are currently leasing or contributing land to the project, are typically responsible for assistance with all local licensing and regulatory matters and, in certain cases, are providing key financial support.
APG has assembled the entire team to deliver this project: from worldclass healthcare management and operational expertise to in-country partners to EPC contractors and equipment suppliers. APG is bringing in the required equity, with debt raised from African lending institutions and with further financial support from some leading real estate funds
Target Markets
