In line with its mission to transform Nigeria’s healthcare landscape through strategic investments, operational excellence, and patient-centered innovation, Iwosan Investments Limited, a pioneering healthcare investment holding company, today announced the acquisition of Paelon Memorial Hospital, a leading multi-specialist healthcare provider in Lagos. This acquisition strengthens Iwosan’s multidisciplinary service offerings and accelerates its dual expansion strategy across Nigeria, combining brownfield (acquisition) and greenfield (new build) projects.
Since its establishment in 2019, Iwosan has been at the forefront of healthcare innovation, investing in critical infrastructure, acquiring and developing facilities—including Lagoon Hospitals in 2021—and expanding access to world-class care. The company has since launched a 25-bed Centre of Excellence for Cardiology in Victoria Island, established the Iwosan Wellness Centre, consolidated Lagoon’s multi-specialty services into distinct centres of excellence, and invested in cutting-edge cloud-based technology to enhance efficiency and patient outcomes. Furthermore in March 2025 Iwosan acquired Euracare Multi-Specialist Hospital entrenching itself as a consistently patient-first world-class healthcare services provider.
Founded on the belief that no society can prosper without quality healthcare, Iwosan continues to improve healthcare quality and accessibility, investing in both infrastructure and talent to ensure Nigerians benefit from comprehensive, patient-centered care.
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.
Commenting, Dr. Ngozi Onyia, Founder and Managing Director, Paelon Memorial Hospital
“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.
