Scaling high-impact health enterprises
The Transform Health Fund, a fund aimed at bridging the financing gap for small and medium enterprises in the healthcare industry in Africa of which Philips has been one of the main driving forces , has closed its first round of financing in May 2023. This allows the fund to start providing financial support to help scale high-impact health enterprises serving vulnerable communities, while offering the fund’s investors sustainable returns on investment.
The fund’s focus is on improving access, affordability, resilience, and quality of healthcare in Africa, particularly within supply chain transformation, innovative care delivery, and digital innovation, three areas that all serve low-income patients.
Examples of initiatives that the fund will invest in can range from a clinic that provides healthcare services to people with a lower income and/or in more remote areas, to supporting healthcare providers that offer "telehealth" services via mobile phones, and companies addressing supply chain challenges, with a specific focus on the last mile.
The fund, which was announced in Washington, DC on December 14, 2022 as part of the US-Africa Leader Summit, brings together commercial, government, and donor investments under the management of AfricInvest, a leading pan-African investment platform active across private equity, venture capital and private debt, and the Health Finance Coalition, a group of leading global health funders hosted by Malaria No More.