DLA Piper has advised the International Finance Corporation (IFC) and Lenmed Hospital Group (Lenmed) on a transaction involving the IFC making available a loan facility in an amount of ZAR200 million to Lenmed.

The funding, which forms part of Lenmed’s larger syndicated loan package of c. ZAR2.5 billion, will support Lenmed’s expansion and its ability to enhance access to quality healthcare in South Africa, Botswana, Ghana and Mozambique.

DLA Piper has also previously advised the syndicated lenders on the larger syndicated debt package.

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. It works in more than 100 countries, using its capital, expertise, and influence to create markets and opportunities in developing countries.

Founded in 1984 in South Africa, Johannesburg, Lenmed has grown to operate 19 hospitals across South Africa, Botswana, Ghana, and Mozambique, providing quality healthcare to over 200,000 patients annually with over 700 doctors and a staff of 3,000, offering a wide range of medical and surgical services.

A team from DLA Piper’s Johannesburg office worked on the transaction and was led by Nick Goldberg, director in the Finance practice, and was supported by associate, Hemlata Singh and Marco Sequeira, candidate attorney (both finance).

Nick Goldberg commented: “DLA Piper has been part of the growth of the Lenmed group since 2017 through advising its lenders on the various debt packages made available to it. The involvement of the IFC is a significant milestone in Lenmed’s growth journey and we are glad to be a part of it.”