Ifc Supports New Crystal Health Services To Expand Its Operations

The International Finance Corporation (IFC), a member of the World Bank Group, on Thursday announced a 2.5 million-dollar investment in New Crystal Health Services to support its expansion for the provision of quality medical services in and around Accra.

The IFC loan, its first in Ghana’s healthcare sector, will help New Crystal to upgrade its existing network of six clinics, add new facilities in Accra’s fast-growing suburbs of Ashaiman and Tema, and broaden its suite of diagnostic services.

New Crystal is a private healthcare group providing high-quality medical services to lower-middle-income and low-income patients and families in and around Accra.

Its services include general clinical care, antenatal, obstetrics, gynecology, dentistry, laboratory and x-ray, pharmaceutical, and simple in-patient services.

It aims to increase the number of patients it serves annually from 227,000 to 350,000 as a result of IFC’s support.

Dr Wisdom Amegbletor, the Founder and Chief Executive Officer of New Crystal, said: “This investment by IFC will help us accelerate implementation of our vision to increase access to affordable high-quality healthcare in Ghana.”

“In addition to financing, IFC will also provide us with advisory services in certain operational areas as we continue to grow our business.”

Ronke Ogunsulire, IFC Country Manager for Ghana, said the COVID-19 pandemic was highlighting the urgent need to strengthen health systems to serve all segments of society.

“The private sector has an important role to play in providing health services and IFC is proud to support New Crystal’s innovative and effective healthcare model.”

The IFC has an active portfolio of about two billion dollars in healthcare companies in emerging markets, including more than 165 million dollars in sub-Saharan Africa as of December 2019.

Through these investments, IFC helps private providers to meet the soaring demand for healthcare and supports governments in their goal of reaching universal health coverage.

It works with more than 2,000 businesses worldwide, using its capital, expertise, and influence to create markets and opportunities where they are needed most.

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