Avacare Global

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Avacare Global (“Avacare” or the “company”) is an integrated distributor and manufacturer of pharmaceutical and healthcare consumable products in Sub-Saharan Africa (www.avacarehealth.com). Founded in 1996, the company currently operates 25 warehousing and 15 manufacturing facilities across 18 African countries including South Africa, Namibia, Botswana, Zimbabwe, eSwatini, Lesotho, Zambia, and Kenya. Avacare is also involved in healthcare training and education through Intellectus Campus. In view of the growing demand for pharmaceutical products and consumables, the company is looking to expand their operations, both organically and through acquisitions, into East and Francophone Africa while continuing to consolidate their position in existing markets. To support entry into these markets, IFC is proposing approximately US$48.6 million financing package comprised of: (i) approximately US$28.6 million equity investment; and ii) approximately US$20 million of a secured ‘A’ Loan. Funds will be utilized across the Avacare group, including its subsidiaries, as capital to allow for the anticipated growth. The investment will be a part of IFC’s Global Health Platform as it will support the distribution and manufacturing of essential COVID-19 related vaccines and personal protective equipment across Africa.