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Business - September 1, 2020

Nigeria’s Flying Doctors set to invest $1 billion in Africa’s healthcare sector

Nigeria’s fast-rising health-tech company ‒ Flying Doctors Healthcare Investment Company ‒ said it will raise the whooping sum of $ 1 billion between 2021 and 2024. The money will be invested towards improving Africa’s health care sector.

The company’s Co-founder and Managing Partner, Ola Brown, told Bloomberg that the $ 1 billion would be raised in tranches.

“We are raising in three tranches within four years. The first $200 million by the end of the first quarter next year, and then $300 million and $500 million,” she said.

Brown, a young and notable Nigerian entrepreneur whose many ventures under the Flying Doctors group are already valued at about $ 200 million, said her focus is now on expanding across the continent.

“We have been investing in Nigeria, we wanted to start investing across Africa and that’s the purpose of opening up to external investors and to now invest in more companies,” she said.

Note that Flying Doctors primarily offers air ambulance services to high net worth individuals particularly in the oil and gas and construction sectors. The company recently went into partnership with Arik Air, constructing health care compartments in the airline’s planes. These compartments now serve as ‘air ambulances’, helping Flying Doctors to meet demand whilst significantly reducing operating cost for the health-tech company.

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