Gobighub, a platform for connecting local entrepreneurs to local investors and local mentors, has acquired Buwatte Family care hospital. This was done under their asset management unit. This was communicated by Ojijo Pascal, the founder of GoBigHub.
Following the acquisition, Ojijo pointed out that they plan to convert a section of the hospital into an incubator that health startups in Uganda can use to test their product and innovations.
"We have created space for health focussed startups to come and get access to health data (under strict terms and conditions of privacy), to be able to test their prototypes and find a constant stream of consumers for their services," Ojijo wrote in the email.
The acquisition was carried out, as Ojijo explained, under "the management to won deal" with the "owner agreeing to exit through equity draw outs or through a single installment."
In a management to own transaction, the owner of the asset, in this case, family care hospital shareholders, engages the asset manager, in this case, Gobighub.com, with a clear contract to manage and buy (or sell), within the period of the management contract.
Having worked with several startups prior to the acquisition of this facility, GoBigHub wants to run the facility with innovation at the forefront. That's probably why they would like to have health startups closer.
They are looking for startups whose solutions aim are in the areas of Cancer detection, Eye test kits and wears, Mama kits innovations, Step tap for hygiene, Concierge medicare, Connecting doctors to patients, Pregnancy tests kits, Medicine delivery and Health records management.