By Chioma Obinna
Iwosan Investments Limited has announced the acquisition of Paelon Memorial Hospital, a leading multi-specialist healthcare provider in Lagos, in a move that further strengthens its position as a major player in Nigeria’s private healthcare sector.
The acquisition, confirmed recently, is part of Iwosan’s strategy to expand its footprint across Nigeria through a mix of brownfield (acquisition) and greenfield (new build) projects. It follows the company’s previous takeovers of Lagoon Hospitals in 2021 and Euracare Multi-Specialist Hospital in March 2025.
Since its establishment in 2019, Iwosan has pursued an aggressive growth and innovation agenda aimed at improving access to quality healthcare. The company has launched a 25-bed Centre of Excellence for Cardiology in Victoria Island, opened the Iwosan Wellness Centre, and invested in cloud-based medical technology to boost clinical efficiency.
Co-founder and Chief Executive Officer of Iwosan Investments Limited, Fola Laoye, said the acquisition aligns with the company’s mission to transform healthcare delivery in Nigeria.
“We are thrilled to welcome Paelon Memorial Hospital into the Iwosan Group,” Laoye said. “Paelon’s remarkable 15-year legacy of excellence, driven by its founder Dr. Ngozi Onyia and her team, has set a gold standard for patient-centered care in Nigeria. This partnership strengthens our commitment to providing exceptional care through innovation and world-class standards.”
Paelon Memorial Hospital, established by Dr. Ngozi Onyia, is renowned for its evidence-based and patient-focused care and holds the distinction of being the first facility in Africa to achieve SafeCare Level 5 certification.
Speaking on the development, Onyia said joining the Iwosan Group would allow Paelon to sustain its vision while expanding its capacity and impact.
“Over the past 15 years, Paelon has been guided by a simple vision to provide compassionate, ethical, and evidence-based care to every patient.
“Joining the Iwosan Group marks an exciting new chapter for us, as it provides access to greater resources and a wider professional network equally committed to excellence, ”Onyia said.
Industry analysts say the deal reflects a growing trend of consolidation within Nigeria’s private healthcare sector, as operators seek to pool resources, expand reach, and improve service delivery amid funding and infrastructure challenges in public health institutions.
Iwosan said the acquisition of Paelon Memorial Hospital will enable greater collaboration and knowledge sharing across its network, while allowing each hospital under the group to maintain its unique identity and operational independence.
The company reaffirmed its commitment to expanding healthcare access nationwide, with ongoing investments in infrastructure, medical technology, and talent development aimed at building a more resilient healthcare system in Nigeria.
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