A leading multi-specialist healthcare provider in Lagos, Paelon Memorial Hospital, has now been acquired by Iwosan Investments Limited.
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.
“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,” the chief executive of Iwosan Investments Limited, Fola Laoye, stated.
On her part, Dr Onyia said, “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.”