STERLING Bank Plc, has successfully provided financing to Tristate Healthcare for the procurement of cutting-edge cardiology equipment and for the acquisition of her location in Lekki, Lagos State.
This facility, according to the bank, was granted in support of Tristate’s ongoing bid to reposition the company’s services as a state-of-the-art healthcare facility.
Divisional Head, Business Growth and Transaction Banking at Sterling Bank, Obinna Ukachukwu, who disclosed this in a statement issued by the bank in Lagos, said with the intervention, Tristate Healthcare would be equipped to perform more complex surgeries and expand her roster of healthcare professionals to cater to the specialised needs of cardiology and other healthcare specialisations in Nigeria.
Mr Ukachukwu said, “With this facility, Tristate Healthcare is now equipped to handle as much as 70 per cent of open-heart surgeries in the country.”
Group Head for Health Finance at Sterling Bank, Ibironke Akinmade, said the bank’s continued investment in the sector of the country would spur even more growth in Nigeria’s healthcare space, make care accessible to more people, and reduce the incidence of medical tourism by Nigerians for complicated procedures by creating capacity to cater to the nation’s needs with institutions like Tristate Healthcare now equipped to provide care comparable to best international standards.
According to Akinmade, “Investments such as these have the capacity to spur even more investments in world-class healthcare facilities in Nigeria, thereby making the country a destination for medical tourism within the African region, aid growth of healthcare’s contribution to the Nigerian economy and contribute positively to the country’s foreign exchange earnings.”
The multi-billion Naira facility lends credence to Sterling’s record of sizeable and impactful investments in the nation’s healthcare sector, coming on the back of over N10 billion disbursed to this sector.
With ongoing partnerships with multiple state governments in Nigeria, Sterling has been actively involved in the ideation and implementation of recent health-related innovations in the country such as drone deliveries for pharmaceuticals, as well as the setup of statewide health insurance schemes to make care accessible to the citizens of Ekiti, Bayelsa, Cross River, Lagos, and Ekiti, to name a few.
The lender was also instrumental in Nigeria’s response to the COVID-19 pandemic, developing and deploying the test booking platform for travellers inbound and outbound of Nigeria during the height of the pandemic.
As part of its commitment to the improvement of health outcomes in the country, Sterling Bank has entered strategic partnerships and developed healthcare services with several healthcare providers, including Tremendoc and Roche Nigeria Limited.
The bank has also signed a Memorandum of Understanding with the Healthcare Federation of Nigeria (HFN) to enable the federation to provide for the digitisation of operations among HFN members.
Health is one of the five sectors in the economy Sterling Bank has been concentrating its investments since 2018. The other sectors are education, agriculture, renewable energy and transportation.
Tristate Healthcare System is a conglomeration of best-in-class super-specialty healthcare providers who are uniquely united by the mission to provide affordable, accessible and compassionate healthcare services.
It began in Nigeria as a medical mission by a group of healthcare practitioners from Europe and America led by Professor Kamar Adeleke and was inspired by the establishment and relocation of Tristate Cardiovascular associate from America to Nigeria in 2014 for the provision of advanced cardiovascular services.
It is presently operating in three states in the southwest region of Nigeria namely: Lagos, Ogun and Oyo.
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