Oshens Group, an international health services company has a €21 million investment deal to upgrade Rwanda’s referral Hospital, King Faisal, to international standards.
The deal signed on Monday afternoon, between Oshens Group company and the government of Rwanda represented by Rwanda Development Board and Ministry of Finance and Planning, is aimed at transforming King Faisal hospital entirely.
KT Press has established that there will be a gradual handover until a time when the investor takes over management of the hospital completely.
King Faisal has suffered prolonged mismanagement yet government has always wanted the hospital elevated to international standards.
Rwanda’s Finance Minister Claver Gatete said that, “Oshens Group has come as one of the most competent investors on board and we have confidence in them to make a change.”
The funds tabled will be used to expand the hospital’s infrastructure and operating other King Faisal Hospital services.
Representing Oshens Group, Alexis Lifschtz the Vice President of Sphera Global Health Care told KT Press that, “We need Rwandans to trust us for the better since this is the beginning of our journey here.”
Once all these changes are effected, the CEO of KFH Prof. Emile Rwamasirabo said Rwandans should expect less people flying abroad for treatments .
The hospital will instead attract many Africans from neighbouring countries to come for treatment. Prof. Rwamasirabo told KT Press that soon he may also return to medical practice.
Meanwhile, Lifschtz said the funds are meant to be spent in a span of five years. King Faisal hospital was built to attend to 170 patients but it currently attends to 250 per day and under the partnership with Oshens Group, the number of patients is expected to increase.
This deal has come as a lasting solution to KFH’s mismanagement, lack of medical instruments, and poor cash flow.
Minister Gatete said that, “This investment comes at a time when Rwanda has an ambition to become a medical hub for the region.”
Handing over the hospital to an experienced investor will provide excellent medical services thus expanding its catchment area.
Currently, the sole cancer center in Butaro Hospital, Northern part of Rwanda, can only provide cancer detection and treatment, and only when cancer is at its early stage.
About 30% of patients were transferred to foreign countries for radiotherapy, mainly India where the cost is estimated between $8,000 and $12,000. Over the last three years alone, the estimated total bill is $12 million.
Speaking at the signing, Gatete said that the provision of world class health care to all Rwandans is a priority for the government of Rwanda.
Rwanda Development Board’s CEO, Francis Gatare, says that, “such private initiatives and investments to transform King Faisal Hospital into a multi-specialty regional referral hospital provide great economic value.”