A consortium comprising Utopian Healthcare Consulting, SIMED (the Netherlands), Cure Healthcare Management Services (Hong Kong), CCP (Nigeria), Healthfore (India), and ITB (Nigeria) has recent signed of a public-private partnership agreement with the Cross River State government for the development and operations of a new 105 bed referral hospital in Calabar, Nigeria.
The hospital is expected to provide high quality advanced secondary clinical and diagnostic services to the 500,000 citizens of the greater Calabar area as well as all citizens of Cross River State.
The project will span 10 years, including 2 years for construction and 8 years for operation, and is anticipated to be operational in 2015. The construction and equipment expenditures of the project will be financed by the government.
The consortium will bear some project development costs, deliver a turnkey hospital, and will then be responsible for running the hospital operations under the terms defined in the PPP agreement.
IFC was the lead transaction advisor to the government of Cross River State in this transaction. The project received support from the Netherlands Ministry of Foreign Affairs through the Netherlands-IFC Partnership Program (NIPP), the South Africa's technical assistance trust fund, and HANSHEP, a group of development agencies and countries, seeking to improve the performance of the non-state sector in delivering better healthcare to the poor.
