Global law firm White & Case LLP has advised International Finance Corporation (IFC), together with other consortium members IFHA-II Cooperatief U.A. (IFHA-II), Swiss Re and CIEL Healthcare Africa Limited (CHL), on an investment in Hygeia Nigeria Limited, Nigeria's leading private healthcare company.
Hygeia Nigeria currently operates a network of hospitals and clinics under the Lagoon Hospitals brand, in addition to a health management organization, Hygeia HMO.
"White & Case has a long standing relationship with IFC, and the Hygeia Nigeria deal is the latest in a series of IFC transactions on which we've advised," said London-based White & Case partner Alan Burke, who led the Firm's deal team. "This is a significant transaction in the Nigerian healthcare sector, which aims to further develop the healthcare infrastructure in the country."
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. It is owned by 184 member countries and works in more than 100 developing countries. The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. IFHA-II is a successor fund of the Investment Fund for Health in Africa, a private equity fund that invests across various healthcare sectors in Africa. CHL is a Mauritian registered private limited company, which owns, operates and manages assets in the healthcare sector in Mauritius and across Sub-Saharan Africa.
The White & Case team in London which advised on the transaction was led by partner Alan Burke and associate Stefan Kecman with support from associates Laura Hoyland, Ndidi Eseonu and Matteo Schirmer. The team worked in close cooperation with IFC's legal team, led by senior counsel Chuks Ibechukwu, Swiss Re's legal team, led by senior counsel Ellen Stanborough, and the Head of Legal Affairs for CHL, Christine Sauzier.
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