Iwosan acquires Paelon Memorial Hospital, deepens leadership in Nigeria’s healthcare sector
Iwosan Investments Limited, a leading healthcare investment holding company, has acquired Paelon Memorial Hospital, one of Lagos’ foremost multi-specialist healthcare providers, in a move that strengthens its leadership in Nigeria’s healthcare sector.
The acquisition aligns with Iwosan’s mission to transform Nigeria’s healthcare landscape through strategic investments, operational excellence, and patient-centered innovation. It also reinforces its dual growth strategy that combines brownfield acquisitions with greenfield developments to expand access to quality healthcare nationwide.
Since its establishment in 2019, Iwosan has built a strong reputation for driving medical innovation and infrastructure investment. Its portfolio includes the acquisition of Lagoon Hospitals in 2021, the Iwosan Wellness Centre, and a 25-bed Centre of Excellence for Cardiology in Victoria Island. Earlier in 2025, it also acquired Euracare Multi-Specialist Hospital, consolidating its position as one of Nigeria’s most ambitious private healthcare networks.
Announcing the acquisition, Fola Laoye, co-founder and CEO of Iwosan Investments Limited, commented, “We are thrilled to welcome Paelon Memorial Hospital into the Iwosan Group. Paelon’s remarkable 15-year legacy of excellence, driven by its founder, Dr. Ngozi Onyia, and her team of dedicated healthcare professionals, has set a gold standard for patient-centered care in Nigeria. Dr. Onyia’s vision, integrity, and collaborative spirit perfectly align with Iwosan’s values and aspirations.
“This acquisition reflects our steadfast commitment to delivering exceptional quality care through state-of-the-art facilities and innovative practices. By combining our strengths, we can expand service offerings, enhance patient experiences, and drive meaningful progress in Nigeria’s healthcare sector. While each hospital under the Iwosan Group will retain its unique identity and operations, they will also benefit from shared expertise, systems, and support across the Group.”
Paelon Memorial Hospital, Africa’s first facility to achieve SafeCare Level 5 certification, is renowned for its evidence-based, patient-centered care and high clinical standards. Joining the Iwosan Group will foster collaboration, knowledge exchange, and the adoption of best practices, benefiting both patients and healthcare professionals. The hospital will gain access to Iwosan’s integrated network of support in governance, operations, finance, human resources, and administration, enabling it to deliver even higher quality care while deepening ties with the communities it serves.
Dr. Ngozi Onyia, founder and managing director, Paelon Memorial Hospital, added; “Over the past 15 years, Paelon has been guided by a simple vision, to provide compassionate, ethical, and evidence-based care to every patient who walks through our doors. Joining the Iwosan Group marks an exciting new chapter for us. It allows Paelon to sustain that vision on a larger scale, with access to greater resources, broader expertise, and a network of like-minded professionals equally committed to excellence in healthcare. We are excited about the possibilities that lie ahead, for our team, our patients, and for Nigeria’s healthcare system as a whole.”
Iwosan plans to continue its growth trajectory by expanding its presence across Nigeria through acquisitions and new developments. The company is committed to investing in healthcare infrastructure and talent to ensure that Nigerians have access to world-class healthcare services.
