Vital Capital Closes Financing for Luanda Medical Center with U.S. Government's Overseas Private Investment Corporation
September 24, 2014
(OPIC)
WASHINGTON, D.C. – Vital Capital Fund is
pleased to announce that the Overseas Private
Investment Corporation (OPIC) recently closed a
USD $9.8 million loan to support the Luanda
Medical Center, a world class medical clinic
designed to provide high quality healthcare and
diagnostic services for the local population of
Angola. The Luanda Medical Center (LMC) will
provide same-day ambulatory and cardiology
procedures, as well as advanced diagnostic
capabilities such as MRI, CT, ultra sound and
X-Ray.
The OPIC loan is made in conjunction with a USD
$ 16.6 million equity investment by Vital
Capital Fund, one of the world’s largest impact
investment funds focused on sub-Saharan
markets.
LMC will address pan-African challenges of high
costs and inaccessibility to quality health
care by delivering world-class health care, in
modern facilities, at affordable prices for the
local population. It will also have an
extensive outreach program to provide access to
its medical professionals and capabilities to
rural areas throughout the country. LMC will
begin serving patients in the 4th quarter of
2014.
“Vital Capital’s investments in high-impact
sectors across the African continent align
excellently with OPIC’s own development finance
goals. Their investment in the Luanda Medical
Center will enable middle and lower income
families to access quality healthcare,
improving the quality of life of local
populations in Angola. This shows how
investing with impact can spur tangible social
improvements while also generating returns for
investors and lenders,” said OPIC President and
CEO Elizabeth Littlefield.
US-based CURE Healthcare Management Services
(CHMS) will support the operations of LMC under
a long-term professional services agreement.
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