US firm, KCB ink Sh850m heathcare deal

By LONAH KIBET

US company General Electric (GE) has signed a Sh850 million deal with Kenya Commercial Bank to boost provision of health services.

 The partnership, which was sealed yesterday, will help provide funds to small and medium enterprises for the development of private health facilities such as clinics, diagnostic centres and hospitals.

Qualified healthcare providers will have access to financing for a range of GE Healthcare equipment manufactured globally.

KCB CEO Joshua Oigara said the loan product would greatly benefit the private health service system in the country.

GE Africa President Jay Ireland said the innovative financing solution is a first in Kenya and would assist the government in its venture to build a strong and diversified healthcare infrastructure.

 “GE is committed to working with both public and private sector partners alike through the localisation of its capabilities and medical technologies to support the expansion of essential health services, as outlined in its Vision 2030 plan,” said Ireland.

In 2012 GE signed an agreement  with the government  to develop projects in the power, rail and aviation sectors.