Tema Hospital Receives Investment for Growth
Oasis Capital Ghana, managers of the Oasis Africa VC Fund (OAF), are pleased to announce their investment in Sinel Specialist Hospital (“Sinel”). Sinel is a Tema-based specialist hospital in Ghana that provides affordable specialist care to female patients. The hospital provides Obstetrics and Gynaecology care as its core service, in addition to Paediatrics, General Surgery, Family Practice, Dietetics and Clinical Psychology.
Since inception, the Hospital has treated over 30,000 women, garnered a reputation for premium care, and been at the forefront of medical innovation. The Hospital was one of the early adopters of diagnostic ultrasound tests in Ghana, diagnostic laparoscopic surgery, PAP smears and one of the first to introduce a fully functional MRI System in Tema. The investment from OAF sets the stage for the company to upgrade its facility to modern standards and expand capacity.
Speaking about the investment Mr. Matthew Boadu Adjei, CEO of Oasis Capital said “The Health services sector has always been a key component of the Ghanaian growth story as it has the potential to solve the health care needs of the growing working class and there is potential to build a truly great business within that space. Sinel’s business model, their commitment to female health and how the promoters have positioned the company, made for an interesting case. We recognized this and wanted to be part of the growth story.”
Mr. Richard Kwame Siaw, an Investment Manager at Oasis Capital commented “the investment accelerates the founding family’s vision to create a world-class medical center in the heart of Tema. With our capital and in partnership with the management team, we would be able to bolster the company’s ability to deliver medical care, improve quality standards and optimize financial performance going forward’’.
Dr. Michael McCarthy, Chief Executive Officer of Sinel Specialist Hospital added. ‘‘This is a defining moment in our growth story - the capital provided strengthens our ability to deliver on our commitments to stakeholders and we are thrilled to have found a partner who shares both our medium-term and long-term goals.”
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