Nigeria’s Interswitch acquires majority stake in health tech company, eClat

Nigerian electronic payment giant, Interswitch, has acquired eClat, a Nigeria-based health technology company that aims to improve healthcare delivery in Africa, according to a joint statement released by both companies.
The deal, which was completed back in September 2019, sees Interswitch acquiring a 60% stake in the health tech company through the purchase of shares from current shareholders and subscription to new shares issued by the company.
Interswitch’s strategic investment in healthcare technology is expected to help address challenges in Nigeria’s health sector — including inadequate funding and a national framework — by improving the efficiency of their core operations and facilitating seamless payments through innovative products and services.

