TLG Capital has closed its first deal in Liberia with an acquisition of a 40 per cent share in the Snapper Hill Clinic.
This represents TLG’s third healthcare related deal since inception in 2009 and its sixth deal overall as TLG Capital expands its platform in frontier markets.
Founded in 1980 by Dr Sirleaf, the Snapper Hill Clinic currently offers general healthcare services and consultations to people of all ages. It was the only private clinic to continue to operate during Liberia’s civil wars and continues to serve the Monrovian population in an environment where health provisions are scarce.
TLG Capital’s investment in Snapper Hill allows the clinic to grow its customer base by using the latest pathology and radiology equipment.
Favourable macroeconomic trends in sub-Saharan Africa are expected to fuel growth of the healthcare sector to USD35bn by 2016, double what was spent in 2005.
Zain Latif, principal of TLG Capital, says: "The Liberian social landscape has changed over the last four years and the worst days of the civil war are in the past. Liberia has taken a new direction; implementing political, economic and social reforms. Snapper Hill Clinic has stood the test of time, acting as a bastion of hope for those in urgent need of help and remains today as one of the only five family medical practises in a city of 4 million people. By providing the clinic with the funds necessary to help facilitate their growth and renewal, we hope to give more stability to healthcare in the region. The investment in Snapper Hill once again demonstrates the ethos and philosophy of TLG Capital to traverse challenging markets and provide the necessary impetus of driving private equity into frontier markets."
Patrick Leoni Sceti, founder of the Leoni Sceti Group, who acted as corporate and commercial advisor to TLG on the transaction, adds: "There is a strong case to be made for infrastructure investment in Sub-Saharan Africa, and especially so in Liberia. With improving economic prospects and geo-political stability the country is poised for growth over the medium to long term and TLG’s investment is a testament to how far this country has come in the last few years."
