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Hayat Hospital & Medical Plc, one of the first privately owned hospitals in the country, has been sold to a local entrepreneur,DinkuDeyasa – the owner of Rift Valley University. Opened 20 years ago, the hospital was owned by Ibrahim Nawd, 81, who transitioned from operating a nearby hotel to owning one of the biggest hospitals in the country.
Ibrahim sold 95 percent of the share for a sum of 132,200,000 Birr and he is to retain a five percent share of the hospital.
“I sold the major share of the company as a way to have the legacy continue and have it reach a new high and sold it to someone who can afford to have it expand; to have an impact in the local hospital industry,” Ibrahim Nawd told The Reporter. “I am excited what it will become of it with the new owners.”
Dinku started Rift Valley University – previously called Rift Valley College –with four other partners in 2000,as a way to bring an international level of education to Ethiopia. It has expanded its reach in many parts of the nation, including opening 27 campuses in Ethiopia and one in Somaliland. It started its pioneering medical school in Adama two years ago and offers 20 undergraduate and five graduate programs in various fields.
The new CEO of Hayat Hospital, RetaBekele, confirmed to The Reporter that the new owners do not have any plans to change the name. It has about 110 working staff for it and it is set to graduate its newest medical doctors at a ceremony on January 6th at Sheraton Addis under the new leadership.
“We plan to expand the hospital, invest in new technologies and hospital beds slowing down the medical tourism that has been the norm among many people in Ethiopia,” he said adding, “We have the space, the know-how and the resources to continue a great legacy.”
- Ethiopian News