Evercare Health Fund

Nigeria, Pakistan, India, Kenya Health

Evercare is an integrated healthcare delivery platform operating in growth markets across Africa and South Asia, including India, Pakistan, Kenya and Nigeria.

Evercare helps communities thrive by improving patient access to clinic and hospital operations, leveraging technology and integration to increase the quality of care.

Evercare is building a foundation of continuous quality improvement and standardized care to improve clinical outcomes and patient safety.

Evercare is wholly owned by the Evercare Health Fund, an emerging markets healthcare fund managed by TPG Growth, the middle market and growth equity investment platform of TPG that also manages The Rise Fund, a global impact investing fund.

Our investment

In 2015, CDC invested $50 million into the Abraaj Growth Markets Health Fund, alongside the Bill and Melinda Gates Foundation, healthcare operators such as Philips and Medtronic, as well as other DFIs, including the African Development Bank, and France's Proparco. Our investment will provide accessible, affordable and high-quality treatment for non-communicable diseases.

Expected impact

Lack of access to medical resources and inefficient healthcare systems across Africa and Asia continue to deliver poor outcomes for a large number of the population. From Nigeria to Bangladesh, Kenya to Pakistan, low- and middle-income countries trail their richer counterparts on healthcare provision.

Our investment will enable the fund manager to focus on improving care in the fields of non-communicable disease and mother and child health. It will initially operate in 10 cities across Africa and South Asia, including Lagos, Karachi, Accra and Nairobi, which represent a combined catchment area of 250 million people.

Abraaj will create a network of healthcare facilities – from tertiary hospitals to labs and imaging centres – that can share resources. By connecting facilities and personnel across specialities and geographies, for example through telehealth and doctor exchange programmes, the fund manager aims to improve access to good quality healthcare for people living in underserved areas.

The project will also create or maintain jobs for 7,500 people across its portfolio companies and train over 5,200 health workers.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

Rest of the World

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.

Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Intermediated investment
Fund manager:
TPG Growth
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

March 2016

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.

Cayman Islands

Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status
CARE (Care Hospitals)

Headquartered in Hyderabad, the CARE Hospitals Group is a specialist healthcare provider. The group has facilities across nine cities operating 2,345 beds throughout central, western and south-eastern India, making it India's fifth largest healthcare provider by number of beds.

View investment details

India South Asia Health February 2016 Active
Islamabad Diagnostic Centre

Founded in 2003, IDC is a leading diagnostics chain in Pakistan which operatesi in 20 centres across Islamabad, Rawalpindi, Wah Cantonment and Hasanabdal. The company has built a successful track record and is known for its latest imaging technologies, broad range of laboratory tests and quick turn-around times and has one of Pakistan's largest pool of qualified radiologists on its team.

View investment details

Pakistan South Asia Health December 2016 Active
The Avenue Group Limited (Avenue Healthcare)

A leading diversified health services and managed healthcare plan provider offering general and specialist inpatient and outpatient care as well as medical plans to individuals and corporates in Kenya.

View investment details

Kenya Africa, East Africa Health January 2017 Active
Avicenna Healthcare 1 Pak (Private) Limited

A greenfield opportunity to establish a 450-bed tertiary care hospital that will act as a multi-specialty hub hospital within AGHF's Karachi ecosystem.

View investment details

Pakistan South Asia Health February 2017 Active
Gate Healthcare 1 Pak (Private) Limited (Evercare Hospital Lahore)

A partnership with a group of 20+ senior consultants in Lahore, Pakistan to establish a 290-bed multispecialty hospital.

View investment details

Pakistan South Asia Health February 2017 Active
Admiralty Hospital Limited (Evercare Hospital Lekki) Nigeria Africa, West Africa Health April 2017 Active
Perregrin Properties Limited Nigeria Africa, West Africa Health April 2017 Active
Healthlink Management Limited (Nairobi Women’s Hospital) Kenya Africa, East Africa Health May 2017 Active
Metropolitan Hospital Holdings Limited Kenya Africa, East Africa Health November 2017 Active