mPharma, the foremost patient-centered and technology-driven healthcare provider on the African continent, has just purchased the majority ownership in HealthPlus, the most prominent drugstore chain in Nigeria. A deal has been made between mPharma and Alta Semper, a previous investor in the company, which will result in mPharma acquiring a controlling position in the HealthPlus Group.
Why The Acquisition
According to mPharma’s CEO and co-founder, Gregory Rockson, the purchase is in keeping with the company’s goal of creating a healthy Africa through the distribution of innovative healthcare solutions. He said that mPharma’s recent purchase of the HealthPlus Pharmacy chain was a natural extension of the company’s efforts to improve Nigerians’ access to low-cost, high-quality medical care.
“mPharma is deepening its long-standing commitment to Africa by reimagining primary healthcare in some of the most vulnerable communities on the continent. We continue to transform community pharmacies into primary care centers to provide affordable and accessible healthcare to all patients so they can live not just longer but healthier lives. We are optimistic about the future of healthcare for Nigerians through the acquisition of HealthPlus”, said Rockson.
“We are delighted about HealthPlus’ partnership with mPharma. We have a strong conviction in mPharma’s strategy of revolutionizing primary care across Africa and believe mPharma is the ideal steward for HealthPlus’s next chapter of growth. We believe mPharma’s vision is consistent with that of HealthPlus’s shareholders and employees, and we are enthusiastic to support the business through a relationship with mPharma going forward,” In her remarks on the acquisition, Afsane Jetha, Co-founder and CEO at Alta Semper Capital, said.
HealthPlus is now the most well-known pharmacy brand in Nigeria, and mPharma intends to keep it that way. The purchase will provide mPharma a solid foundation on which to build a larger presence in the Nigerian market and to extend its QualityRx mutti pharmacy retail programme across Africa.
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HealthPlus, which presently retails economical and high-quality drugs throughout 12 states in Nigeria, will soon be able to provide patients access to primary care services within its pharmacies, made possible by mPharma’s proprietary Bloom software. In addition to opening its pharmacies, HealthPlus will introduce mutti®, a health membership programme developed by mPharma that will provide savings, interest-free “heal-now-pay-later” options, free health screenings, and other primary care services to both new and current clients.
With the addition of HealthPlus pharmacies to mPharma’s expanding network of partner mutti pharmacies and GoodHealth stores (PPMVs), mPharma will be able to improve the health of over 100,000 Nigerians every month in more than 320 locations across the country.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexpert