SPOTLIGHT
TRANSFORMING HEALTHCARE IN SOUTH ASIA AND AFRICA Evercare Group CEO Massimiliano Colella discusses healthcare in emerging economies, the Group’s response to the COVID-19 pandemic and its journey to become the leading integrated healthcare network in emerging markets. In 2015 the OPEC Fund approved an equity participation of up to US$20 million in the Evercare Health Fund as one of the initial investors
OPEC Fund Quarterly : Why does the Evercare Group focus on emerging markets?
global alternative asset manager, and backed by its global impact investing fund, The Rise Fund. Our network of healthcare facilities has grown to 30 hospitals, 16 clinics and 82 diagnostic centers across India, Pakistan, Bangladesh, Kenya and Nigeria 1 . Staffing across the organization has risen to over 11,000. We focus on the 'double bottom line', bringing high-quality care to traditionally underserved communities, while achieving measurable and sustainable financial returns for our shareholders. Throughout our healthcare facilities we work to close the gaps in capacity and medical specialties, ensuring that communities can access the care they need.
responded quickly with key initiatives at the portfolio and fund levels. Guidance provided by local and international authorities, such as the World Health Organization (WHO) and Centers for Disease Control, was used to develop protocols and guidelines, as well as tighten policies, governance mechanisms and emergency response plans to protect patients and staff. The procurement of equipment and resources to deal with the pandemic was prioritized. Furthermore, COVID-19 infection control measures were strengthened and telemedicine was introduced for patients needing consultations during stringent lockdowns when they were unable to access hospitals and clinics. When the pandemic hit, we were in the process of completing a new hospital in Lagos, Nigeria. Our team quickly partnered with Guaranty Trust Bank
Massimiliano Colella: Our raison d'être is to help address critical inadequacies in the healthcare sector in emerging markets. The COVID-19 pandemic exposed and exacerbated long-standing gaps and highlighted the increasing disparity between healthcare in developed and emerging economies. The need for private sector funding is critically important to complement public healthcare systems in the markets where we operate, particularly in countries with over-burdened public healthcare systems. We are unique as we are both an investment fund and also operate healthcare facilities. We are owned by the Evercare Health Fund, a US$1 billion emerging markets healthcare fund managed by TPG Growth, a leading
OFQ : How did Evercare respond to the pandemic? MC: The COVID-19 pandemic hit emerging markets hardest. We
1. The OPEC Fund’s equity participation is only invested in its non-member countries.
36
Powered by FlippingBook