According to reports, mPharma and Alta Semper, a former investor at HealthPlus, have signed an agreement leading to the acquisition of a majority stake in the HealthPlus Group.
This comes after mPharma acquired a 55% stake in Vine Pharmacy in Uganda last year, as well as the $5 million acquisition of Haltons Pharmacy in Kenya, marking the startup’s launch in East Africa.
mPharma has raised $65 million to date from investors such as JAM Fund, a venture capital firm founded by Tinder co-founder Justin Mateen; Unbound, a growth investment firm by Shravin Mittal, the director of Bharti Global Limited (Bharti family investment arm); Lux Capital; north star; Social capital; Novastar; and TO Ventures.
The health tech was founded in 2013 with the mission of setting up a drug monitoring system that connects patients, hospitals and pharmacies to ensure reliable and safe access to medicines.
Commenting on the acquisition, mPharma’s chief executive officer and co-founder, Gregory Rockson, said the acquisition is in line with the company’s mission to build an Africa in good health through life-changing healthcare services and to provide medicines to improve health. outcomes for patients. He stated that mPharma’s acquisition of the HealthPlus Pharmacy chain complements mPharma’s deep commitment to increasing patients’ access to affordable and quality healthcare in Nigeria.
“mPharma deepens its longstanding commitment to Africa by reshaping primary health care in some of the continent’s most vulnerable communities. We continue to transform community pharmacies into primary care centers to provide affordable and accessible health care to all patients, enabling them to live not only longer, but healthier lives. We are optimistic about the future of healthcare for Nigerians with the acquisition of HealthPlus,” said Rockson.
The acquisition gives mPharma a stronger presence in Nigeria’s health technology and an opportunity to expand its mutti pharmacy retail business across the continent through its fast-growing QualityRx program.
The deal with HealthPlus comes two years after Alta Semper Capital agreed to invest $18 million in HealthPlus, agreeing that HealthPlus founder and CEO Bukky George would give Alta Semper Capital a majority stake to realize their investment.
However, two years after receiving the investment from Alta Semper Capital, HealthPlus faced an internal crisis among its investors, leading to the termination of the appointment of Bukky George – who founded the company – as CEO by the board of directors. . However, HealthPlus denied George’s resignation by stating that the press release was not authorized by the company or anyone acting on its behalf. BenjaminDada reported.