New Crystal Health Gets $5.7m Capital Boost

Dr. Wisdom Amegbletor

NEW CRYSTAL Health Services (NCHS), a leading private medical facility, has secured a capital injection of approximately US$5.7 million as it seeks to take its services a notch higher in the provision of quality healthcare.

The capital injection comprises a loan of US$2.5 million from International Finance Corporation (IFC), the private sector arm of the World Bank and equity of three million Euros from impact investment group, Investisseurs & Partenaires (I&P), headquartered in France.

NCHS is the first healthcare provider to secure a credit facility from the IFC in Ghana, and has several times been the highest rated health service provider in the Ghana Club 100 rankings over the years.

The investments from both institutions will help NCHS upgrade its existing network of hospitals, add new facilities in the fast-growing suburbs of Ashaiman and Tema in the Grater Accra Region, as well as broaden its diagnostic services.

NCHS started operations in 2003 with a small healthcare facility in Ashaiman. Since then, the healthcare service provider has experienced a tremendous growth and currently operates seven networked branches in Greater Accra and Western regions.

The new investment will significantly enhance the infrastructure and service delivery of the health service company.  The funds will be used to put up completely new and modern hospitals in Ashaiman and Tema. Other facilities at Michel Camp, Adjei Kojo and Afenyo, all within the Ashaiman and Tema enclave, will receive significant facelift.

Speaking in an interview, the Chief Executive Officer of NCHS, Dr. Wisdom Amegbletor, said that the funds secured from the IFC and I&P would further upgrade the facilities to become centres of excellence in the delivery of general care, “by using modern equipment operated by skilled staff in a patient-friendly environment.” 

He described the investments as timely and commended the IFC and I&P for believing in the brand and its vision. He added that with the Covid-19 pandemic and the predictions that there could be many more pandemics in future, expanding NCHS to provide additional services, could not have come at a better time.

Dr. Amegbletor explained that “NCHS will function as a one-stop-shop for patients requiring general inpatient or outpatient services by offering a comprehensive package of services including prevention, screening, diagnostics and treatment.”