TLG Capital partners with MCF to invest in largest private out-patient facility in Liberia
30 November 2016
Today, TLG Capital announced that it has invested growth capital in Snapper Hill Clinic in Liberia, through its Credit Opportunities Fund, backed by a guarantee from the Medical Credit Fund (MCF).
Snapper Hill Clinic is the largest private out-patient facility in Liberia's capital Monrovia, serving around 15,000 patients a year. The investment will enable Snapper Hill to deploy two additional clinics and increase patient volumes to over 50,000 patients a year. TLG Capital has been an investor in Snapper Hill since 2010.
Snapper Hill Clinic has been in operation since 1983 and cemented its strong reputation when it became the only clinical service provider in Monrovia during the height of the civil war (1989 - 1991). It reprised its role as a resilient healthcare provider when it became one of the few outpatient facilities providing services during the Ebola crises in 2014-16. Liberia was worst hit by Ebola amongst the West African countries with close to 15,000 registered cases and a mortality rate of 55%
Bart Schaap, Finance Director of Medical Credit Fund commented: "In investment climates like that of Liberia, it is especially difficult for the health sector to access capital - an even more harsh reality in a country where the healthcare needs are so pressing. Medical Credit Fund lowers the investment risk so that players like TLG Capital are more inclined to inject capital into medical facilities like Snapper Hill, a clinic that has played such a crucial role in the Liberian healthcare market already. We look forward to building these new partnerships and helping to improve quality of care for a growing number of patients in Liberia."
Click here for TLG's press release.