Hospital Fundraising: Innovating Healthcare Through Digital Means

Washington, DC, June 07, 2023 (GLOBE NEWSWIRE) — TheHealth Finance Coalition today announced the successful initial close of $50 million for the transformative pan-African Transform Health Fund (THF) managed by AfricInvest.

With this milestone, THF is ready to kickstart investments in innovative approaches to enhance healthcare access, affordability, resilience, and quality across Africa.

The Fund, a collaboration between Health Finance Coalition and AfricInvest, integrates commercial, public, and private donor funds from notable entities including Royal Philips, Merck & Co., Inc. (known as MSD outside the United States and Canada), the U.S. International Development Finance Corporation (DFC), the International Finance Corporation (IFC), Swedfund, FSD Africa Investments, Grand Challenges Canada, U.S. Agency for International Development (USAID), Netri Foundation, Anesvad Foundation, Chemonics International, and MCJ Amelior Foundation.

The THF was prominently featured in December 2022 at the U.S.-Africa Leaders Summit in Washington, D.C., under the leadership of President Biden.

THF stands out as an innovative blended-finance initiative set to invest in locally-driven healthcare supply chains, care delivery systems, and digital innovations in Africa.

Under AfricInvest's stewardship, a reputable pan-African investment platform engaged in private equity, venture capital, and private debt, in collaboration with the Health Finance Coalition, an esteemed collective of global health investors under the umbrella of Malaria No More, THF is poised to support enterprises that enhance healthcare system resilience and preparedness continent-wide.

The Fund aims to provide debt and mezzanine financing to upscale impactful health enterprises catering to underserved communities while offering investors risk-adjusted returns.

THF is expected to fortify healthcare systems in Africa, addressing substantial financing and capacity shortages exacerbated by COVID-19 and climate change, while striving to achieve Sustainable Development Goals and Universal Health Coverage.

The Challenge:

Africa's Vast Health Financing Discrepancy While Sub-Saharan Africa accounts for 14% of the global population and 20% of the global disease burden, merely 1.6% of annual impact investments are directed towards the healthcare sector in Africa.

The Opportunity:

Creative Solutions to Empower African Healthcare AfricInvest, leveraging its three-decade experience in investments, extensive pan-African presence, and robust networks, is set to provide funding to scale essential innovations that contribute to a more robust health ecosystem.

Specifically, THF will focus on investments across sub-Saharan Africa in three critical areas benefiting low-income patients: supply chain optimization, innovative care delivery models, and digital advancements.

"COVID-19 and the growing challenges of climate change have revealed significant gaps and opportunities for healthcare financing and delivery innovations in Africa," stated Martin Edlund, CEO of Malaria No More and the Executive Director of the Health Finance Coalition. "The Transform Health Fund will play a vital, catalytic role in expanding healthcare solutions that will preserve and transform lives."

"Innovative healthcare delivery models in Africa expand the reach of quality care to more individuals, particularly in underserved regions. IFC's investment in the Transform Health Fund will provide increased financial backing for these innovative models, enabling their expansion, growth, and contribution to sustainable and inclusive healthcare provision," mentioned Henrik Elschner Pedersen, IFC Regional Director for Manufacturing, Agribusiness, and Services in Africa.

"The Transform Health Fund showcases the potential of combining a 'capital stack' approach to financing with a genuine commitment to impactful transformation," emphasized Ray Chambers, WHO Ambassador for Global Strategy and Health Financing. "To achieve the world's ambitious global health objectives, scaling such efforts urgently is imperative, especially as the world emerges from COVID-19 and faces significant macroeconomic challenges."

"Our organization has a longstanding dedication to supporting innovative strategies that enhance access to healthcare and promote health equity," affirmed Carmen Villar, Vice President, Social Business Innovation at Merck & Co., Inc. "Through impactful investments like the Transform Health Fund, we contribute to enhancing the healthcare ecosystem to better serve patients in Africa."

"DFC takes pride in being among the early backers of the Transform Health Fund (THF). Supporting the private sector in building resilient health systems in low-income nations is a priority for DFC. THF's healthcare investments across sub-Saharan Africa align with DFC's commitment to enhancing healthcare access and quality, including through digital healthcare services and robust healthcare supply chains. This commitment exemplifies how DFC invests in healthier communities and innovative healthcare solutions through the private sector," expressed Scott Nathan, CEO of the U.S. International Development Finance Corporation (DFC).

"Enhancing care access in Africa is paramount, requiring a resilient healthcare structure to facilitate this. Through the creation of the Transform Health Fund, Philips contributes to expanding access to quality and affordable care in marginalized communities in Africa," stated Marnix van Ginneken, Philips' Chief ESG & Legal Officer. "This supports our goal to enhance the lives of 2.5 billion people annually by 2030, particularly focusing on the health and well-being of 400 million individuals in underserved communities. This is why we strongly advocate for the establishment of this fund and wholeheartedly support it."

"Canada is committed to mobilizing new sources of private and public financing for sustainable development. Through Grand Challenges Canada's $5 million USD catalytic investment in Transform Health Fund, Global Affairs Canada proudly supports the crucial work of strengthening healthcare ecosystems in Africa to ensure equal access to quality healthcare for underserved communities," remarked Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada.

"We realize, from our operations in Africa and globally, that transformative changes occur when local leaders, innovators, and entrepreneurs have the resources, networks, and capital to scale their ideas and solutions," stated Jamey Butcher, President and CEO of Chemonics International. "Chemonics is honored to back the Transform Health Fund, which injects much-needed additional capital to address critical health challenges in Africa."

"FSDAi is thrilled to declare its catalytic capital investment in the innovative THF fund. We are pleased that our capital injection into this tranche of the fund facilitated the involvement of other commercial and corporate private sector investors," affirmed Anne Marie Chidzero, Chief Investment Officer at FSD Africa Investments.

"Collaborating with AfricInvest, HFC, and the other fund participants to fortify the African healthcare system, especially in times of environmental strain and unpredictable climate events, stands as a top priority for FSDAi," she added.

"Swedfund employs various strategies to discover business models and partners that enable us to reach more individuals currently lacking care, given the immense needs that exist. Our investment in the Transform Health Fund exemplifies this approach. By financing healthcare in developing nations, prerequisites are established for sustaining and developing medical expertise within the countries and transferring it to other healthcare facilities," mentioned Sofia Gedeon, Investment Director at Swedfund.

For more details on the THF, please contact Noorin Mawani. For interview requests, please reach out to Jennie Bragg.

About AfricInvest:

AfricInvest stands out as a prominent pan-African investment platform involved in multiple alternative asset classes such as private equity, venture capital, private credit, and listed equities.

Over the past 25 years, we have raised over $2 billion to support nearly 200 companies at different growth stages, delivering value and impact for our investors, portfolio companies, and the communities we serve.

Our team of over 100 investment professionals situated in more than ten offices across three continents has a proven track record of delivering attractive risk-adjusted returns while driving productivity growth, generating employment opportunities, and ultimately enhancing African livelihoods through inclusive and sustainable development.

Learn moreAbout the Health Finance Coalition:

The Health Finance Coalition (HFC) was established by a group of renowned philanthropies, investors, donors, and technical partners under the leadership of WHO Ambassador for Global Strategy and Health Financing, Ray Chambers, and facilitated by Malaria No More.

The HFC aims to attract an unprecedented level of private-sector investment to impact millions of lives and accelerate progress towards ensuring healthy lives and promoting well-being for all, a key UN Sustainable Development Goal 3.

The coalition leverages public and philanthropic funding to incentivize private-sector capital investment in transformative healthcare initiatives. Learn more

Malaria No More envisions a world where no life is lost due to a mosquito bite. Our work over the past 15 years has contributed significantly to advancing this vision. We are now rallying political support, funding, and innovation necessary to achieve one of the greatest humanitarian feats – eradicating malaria within our generation.

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