Aumet, a B2B healthcare marketplace based in the United States that serves the Middle East and North Africa, has announced the acquisition of Platform One, an Egypt-based healthcare supply chain solutions startup, for an undisclosed amount. With this acquisition, Platform One will now be fully operational across Saudi Arabia, the United Arab Emirates, Egypt, and Jordan, with over 5,000 active pharmacies on its platform.
Platform’s team will handle Aumet’s operations in Egypt under the terms of the agreement, and Aumet will have access to Platform’s user base.
Why The Acquisiton?
With over 150 pharmaceutical suppliers and 600 pharmacies on its marketplace, Platform One is Egypt’s top provider of digital business pharmaceutical solutions.
“Egypt is a crucial market for us, and Platform One has already set the building blocks for what’s next to come. The synergies that resonated between Aumet and Platform One were clear from the initial phases of interaction as both Companies are tech-focused digital solutions providers for the healthcare industry,” Aumet CEO Yahya Aqel said.
Through the acquisition, pharmacies in Egypt will now have access to Aumet’s full product suite, which includes Aumet MarketPlace, a mobile app and web application that connects pharmacies with pharmaceutical suppliers, Aumet Pharmacy, a POS and inventory management software solution that allows pharmacists to manage their cash flow and easily automate their orders with the “Stock Auto-Replenishment” feature connected to Aumet MarketPlace, and Aumet Pay, a payment solution.
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“We are incredibly excited for our adventure to come with the Founders of Platform One, Yossry Farghaly, Abdelhady Araby, and Osama Al-Atroush, who will be managing Aumet’s activities in Egypt,” Aqel concluded with high hopes for this new union.
Aumet, a B2B network that links Pharmacies and Pharmaceutical Suppliers across MENA, was founded in 2015. Aumet is enabling manufacturers, distributors, and healthcare providers to exchange data, resulting in increased efficiency and better decision-making. Aumet now has access to Platform One’s network of users as a result of its acquisition of Platform One, and the Cairo-based team will oversee Aumet’s activities in Egypt.
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Platform One, founded in 2018 by Yossry Farghaly, Abdelhady Araby, and Osama Al-Atroush, now lists over 600 pharmacies and works with 150 suppliers. Aumet, a Mena-based startup founded by Yahya Aquel in 2015, connects pharmacists with suppliers. It has 5,000 pharmacies on its marketplace right now.
Platform One healthcare Supply Platform One healthcare Supply
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer