Private Equity Firm TPG Faces Allegations of Misconduct in African Hospitals

TPG Inc., a US-based private equity giant, owns Avenue Healthcare Parklands Hospital in Nairobi, Kenya, and manages five hospitals and dozens of clinics across Africa and Pakistan. Employees have complained of pressure to boost revenue by ordering unnecessary tests and admitting patients unnecessarily, and allegations of racial discrimination and threats to staff who questioned the hospital's CEO. The hospital's mission is to expand access to healthcare while generating a profit for investors, including the Gates Foundation and World Bank. The story raises questions about TPG's ability to manage its investments with a positive social impact.