Iwosan Investments, the Lagos-based healthcare investor founded by Nigerian business leader Fola Adeola, has taken over Paelon Memorial Hospital, adding one of the city’s respected multi-specialist centres to its growing network of medical facilities. The move fits into a broader plan to deliver higher-quality care across Nigeria through new builds, strategic acquisitions and operational improvements.
The company said the acquisition strengthens its presence in the country’s healthcare market as it invests in technology, infrastructure and professional expertise to improve patient outcomes. Under the Iwosan structure, Paelon is expected to benefit from enhanced administrative support and resources that can help it scale specialist services while maintaining the standards that built its reputation.
Paelon Memorial Hospital has long been recognised for its commitment to evidence-based treatment and is Africa’s first recipient of the SafeCare Level 5 certification. Iwosan’s co-founder and chief executive, Fola Laoye, said Paelon’s clinical performance and leadership under founder Dr Ngozi Onyia made the partnership an easy decision. She added that while each hospital under the group will retain its identity, all will gain advantages from shared systems and expertise.
Dr Onyia described the deal as a milestone that will allow the hospital to uphold and strengthen its mission centred on ethical and compassionate care. After 15 years of operation, she said joining Iwosan marks a “new chapter” with deeper support for staff and patients.
Iwosan, established in 2019 by Adeola and Laoye, has been scaling rapidly by investing in both greenfield projects and existing facilities. Its latest major development is the full-service Iwosan Lagoon Hospital in Victoria Island, opened last year following the acquisition of the Lagoon Hospitals Group in 2022. The expansion aims to create a broad, dependable network of centres delivering modern healthcare to more Nigerians regardless of location.
With Paelon now part of the portfolio, Iwosan says it is advancing its mission of raising care quality and strengthening private healthcare delivery nationwide.
