Interswitch expands operations, acquires majority stake in eClat Healthcare

Interswitch Group said it is on a mission to redefine the Nigerian healthcare system. This comes as the company claims that it has revolutionised the country’s financial services sector.

The company announced yesterday via LinkedIn that it had acquired majority stakeholding in eClat Healthcare Limited, a company that primarily provides resource tools to hospitals in Lagos State and elsewhere.

Nairametrics understands that the deal, which was signed recently in Lagos, saw Interswitch acquiring a 60% stake in eClat Healthcare “through the purchase of shares from current shareholders and subscription to new shares issued by the company.”

Apparently, eClat Healthcare is a good fit for Interswitch’s expansion drive because both companies’ operational models are somewhat aligned. As a healthcare company, eClat focuses on using technology to accelerate healthcare provision, thereby ensuring efficiency whilst improving on patient’s outcomes.

In the meantime, Interswitch plans to leverage digital technology to transform Nigeria’s healthcare delivery system, just as it did in the financial services sector. The acquisition of eClat Healthcare will now position Interswitch as both payments solutions provider and a healthcare solutions provider.

“Now, we’ve got our sights set on more transformational sectors of society and economy, and our recent acquisition of majority shareholding in eClat Healthcare is a milestone that exemplifies our resolve to revolutionise the healthcare system in Nigeria, leveraging digital technology, just as we did in financial services.“

Commenting on this development, Interswitch Group’s Founder and Chief Executive Officer, Mitchel Elegbe, said the company is constantly innovating in order to deliver value across critical sectors of the Nigerian economy. This has informed the company’s acquisition of the e-health company, Elegbe said.

A necessary move: Interswitch’s decision to expand its operation is necessary at this point, bearing in mind the fact that the Nigerian payments ecosystem is gradually becoming saturated with competitors. Note that the likes of Paystack and Flutterwave are currently playing in this field.

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