Vital Capital was voted as the winner of the EMPEA Institute’s 2017 Sustainability & Operational Excellence Challenge for its its greenfield investment in, and management of Luanda Medical Center, a world class clinic designed to provide high quality healthcare and diagnostic services to the local population of Angola.
As LMC was a greenfield investment, all elements of the enterprise were designed from the beginning by Vital Capital in collaboration with professional advisors.
Impact Highlights:
Size of LMC: US$71.1 million in enterprise value (as of December 2016)
Investment: Vital Capital invested US$21.6 million in equity in LMC
Seeing a gap in the Angolan market for affordable, high-quality healthcare, Vital Capital chose to make a greenfield investment in 2012—initiating, implementing and overseeing the creation of Luanda Medical
Center—in order to increase the availability of healthcare and diagnostic services in the country. Today the medical center serves over 7,000 individuals per month, of which approximately 75% obtain access to its services via commercial health insurance.
Vital Capital tackled all elements of designing the healthcare facility from its inception, including refurbishing and reconfiguring the space, purchasing and installing medical equipment, and installing the IT infrastructure that would be responsible for the medical, management and financial reporting
systems. Vital Capital also prioritized staffing the clinical and management teams with highly qualified locals and expatriates. As of September 2017, LMC has 330 full-time employees, over 60% of which are female.
In 2015, Vital Capital facilitated LMC’s adoption of GIIRS (the Global Impact Investing Rating System), which systemically rates a company’s social and environmental impact. Within two years from its official launch, the facility was awarded with a Gold Medal for its development impact business model, and is rated as having above-average performance in all operational categories including workers, the environment, community and governance.