The Medical Credit Fund is part of the PharmAccess group of non-profit organizations dedicated to improving access to quality healthcare in Africa. PharmAccess mobilizes public and private resources for the benefit of doctors and patients through clinical standards and quality improvements, loans for healthcare providers, health insurance, mHealth innovations and operational research.
This integrated approach is made possible by the following organizations:
Medical Credit Fund enables the purchase of MRI and CT Scan for the National Orthopedic Hospital Igbobi, Lagos
For decades, the National Orthopedic Hospital Igbobi, the largest public orthopedic institution in Nigeria, operated without CT and MRI. A recent investment enabled by Medical Credit Fund (MCF) in partnership with Grofin, extended a loan of US$1.7 million for the construction of a dedicated radiology building and the purchase of a CT and MRI scan.
dec 23, 2019
For decades, the National Orthopedic Hospital Igbobi, with 450 beds the largest public orthopedic institution in Nigeria, operated without CT and MRI. As the public hospital lacked the budget to purchase the equipment, a public-private partnership was set up. Digital X-Ray Limited, a private company, was granted the concession to operate the radiology department in the hospital, including MRI and CT services. This investment was enabled by Medical Credit Fund (MCF), who, in partnership with Grofin, extended a loan of US$1.7 million to Digital X-Ray for construction of a dedicated building and the purchase of the equipment. Both the MRI and CT scanner are now operational and serve patients at the hospital.
The National Orthopedic Hospital Igbobi in Lagos deals with accidents and the more complicated bone fracture – cases in Lagos state. According to Mustapha Alimi, Chief Medical Director at Hospital Igobi, about 40% of their patients need MRI to correctly identify the complication. For patients that where already admitted this was a big burden: they needed to be transferred to another hospital, only for a scan and to get diagnosed. The absence of the equipment also led to many misdiagnosis and incorrect treatments.
Digital X-Ray had tried to obtain a loan from a local bank, but this turned out too complicated. Banks in Nigeria, like in many other Sub-Saharan countries, perceive the healthcare sector as risky. It is therefore difficult for small and medium-sized enterprises (SMEs) to obtain financing to improve and expand their services. Medical Credit Fund is the only fund dedicated to help private sector facilities in Africa to access loans, so that they can help fill the demand for affordable, quality healthcare in the region.
MCF and PharmAccess did not only help with installing the scan but also provided capital to improve the infrastructure around the diagnostic department. Find out more about the impact of the CT scan for the hospital in the video below: