TLG Capital has invested an undisclosed amount in Snapper Hill Clinic (SHC), a Liberian healthcare provider, through its Credit Opportunities Fund.

SHC is the largest private out-patient facility in Liberia's capital Monrovia, serving around 15,000 patients a year. 

The investment will enable SHC to deploy two additional clinics and increase patient volumes to over 50,000 patients a year. 

TLG has been an investor in SHC since 2010, when it acquired a 40% stake in the healthcare provider.

Saad Sheikh, who led the deal for TLG, said: “We are delighted to be deepening healthcare delivery in Liberia. With the expansion capital from TLG, SHC is able to offer best in class healthcare services across 3 locations in Monrovia - greatly increasing the supply of healthcare services to lower and middle income households."

"SHC aspires to be the market leader not only in Liberia, but also the region and TLG is excited to be contributing to that success. We have found a great partner in MCF to improve health delivery across sub Saharan Africa, with its credit enhancement and technical assistance programme, and we look forward to achieving more together in the coming years,” he said.

Founded in 1980 by Dr Varsay Sirleaf, the Snapper Hill Clinic currently offers general healthcare services and consultations to people of all ages. 

It was the only private clinic to continue to operate during Liberia’s civil wars and continues to serve the Monrovian population in an environment where health provisions are scarce.

Varsay Sirleaf, CEO of SHC, said: ”This transaction represents a major step forward in our relationship with TLG who have been our partners since 2010.”

"TLG's investment will not only support our vision of becoming West Africa's preferred service provider but will also buttress our participation in building a resilient healthcare system in Liberia post-Ebola,” he said. 

The investment was backed by a guarantee from the Medical Credit Fund (MCF).

Initiated by the PharmAccess Group with support from Dutch private donors and the Dutch government, MCF is a Netherlands based social impact fund that enables Health SMEs in sub-Saharan Africa to access affordable finance in order to improve the quality of healthcare. 

By reducing the unknown risks of investing in smaller scale healthcare providers, it catalyzes financing that enables healthcare providers to invest in quality enhancement and expansion of their facility. 

The finance program is combined with technical support on quality improvement and business planning, delivered by PharmAccess and its partners.

Bart Schaap, Finance Director of Medical Credit Fund, said: “In investment climates like that of Liberia, it is especially difficult for the health sector to access capital - an even more harsh reality in a country where the healthcare needs are so pressing. Medical Credit Fund lowers the investment risk so that players like TLG Capital are more inclined to inject capital into medical facilities like Snapper Hill, a clinic that has played such a crucial role in the Liberian healthcare market already. We look forward to building these new partnerships and helping to improve quality of care for a growing number of patients in Liberia."

“We are equally excited about our new relationship with the PharmAccess family (MCF and SafeCare). Through this partnership, SHC will be introducing higher standards of service into the Liberian market and ensuring that patients receive safe, timely and effective healthcare,” added Sirleaf. 

This is the fourth investment made by TLG out of the COF.

Previous investments include Mybucks, Broadband Homes and Homestrings.