Leapfrog investments have come together with Good life Pharmacy to invest in the health sector for quality and affordable health services.
Leapfrog has announced its first health care investment that will focus on increasing accessibility, quality, and affordability of consumer-centered healthcare services in Africa and Asia.
The first investment made by Leapfrog investments amounts to USD 22 million in partnership with Kenya’s Good life pharmacy to serve the entire East African region.
The World Health Organization (WHO) estimates that over 150 million people fall into poverty annually due catastrophic healthcare events and inability to pay out of pocket for healthcare services.
Speaking in Nairobi, Dr.Felix Olale of Good life Pharmacy said that by moving into health, it is a unique approach of addressing challenges in the health industry through investment.
“Low health insurance penetration, coupled with an increase in utilization of services has an enormous impact on the ability of consumers to access and afford quality healthcare”, said Dr.Olale.
Leapfrog aims at building on its financial services specialism by diversifying its private equity investments into a closely linked sector healthcare in order to develop a platform that combines both payers and providers.
Michael Fernandes of the Leapfrog investment says that the focus of the investment is on re-thinking traditional approaches to solving health problems by finding new ways to deliver consumer-centric models.
“By focusing on bridging the gap in products and services that are most relevant within emerging markets, we can bring health services closer to the consumer and improve patient outcomes while making top returns for our investors,” Dr.Fernandes reiterated.
The partnership has a goal of delivering variety and quality healthcare products that will benefit consumers at affordable prices and to transform healthcare delivery in Africa.