Summit Africa Private Equity Fund I Acquires Controlling Interest in Life Path Health Group

We are pleased to announce that Summit Private Equity Fund (SPEF I) has completed the acquisition of a controlling interest in the Life Path Health Group.

This investment is in line with SPEF I’d Healthcare sector investment strategy of establishing trusted healthcare brand(s) that provide affordable quality healthcare services, specifically in peri-urban, rural and township areas of South Africa, where there is a structural under-supply.

Life Path Health provides inpatient treatment to voluntary and assisted patients with mental health and addiction-related conditions in South Africa. Life Path Health distinguishes itself from its competitors by offering upmarket boutique-style hospitals with a homely environment to restore hope and heal the mind. The Group follows a multi-professional team approach to patient care, including psychiatrists, psychologists, occupational therapists, social workers, and 24-hour nursing.

Life Path Health has 325 beds across nine healthcare facilities, seven in the Western Cape, one in Soweto, Gauteng and one in Pietermaritzburg, KwaZulu Natal. Each hospital is strategically placed for accessibility and convenience. The Group also holds Department of Health licenses to expand its offering into various new locations in five provinces, with a target to double its size (by number of beds) over the next five years.

Tomi Amosun, the Managing Partner of SPEF I, commented, “Life Path Health’s services have had a profound impact on the lives of so many struggling with mental health and addiction. One in six South Africans suffers from anxiety, depression, or substance-use problems, and many do not have access to or are too scared to seek help. Through our investment, we hope to make treatment for mental illness easily accessible for South Africans, specifically those in the underserved areas of our country.”

Dr Karen Olckers, the Chief Operating Officer of Life Path Health added, “Being able to choose happiness, laughter, peace, health and joy, and most of all, to live and to have a full life, are often a huge struggle or even impossible to many people out there. Mental health is a blessing but struggling with mental illness is a hardship. At Life Path Health, we aim to support people, everyday people like you and me, to be able to choose life on their journey to good mental health. Mental health is not a destination but a process. To quote renowned psychologist Noan Shprancer, ‘It’s about how you drive, not where you are going.’”

Anton Rossouw, the CEO of Life Path Health, said, “Partnering with Summit was a natural fit, and we believe that both parties have a similar ethos and vision for providing quality, accessible and affordable mental health care in this country. We are looking forward to this journey together.”