Grinta, a prominent e-commerce platform dedicated to serving the needs of independent pharmacists throughout Africa and the Middle East, has recently concluded its third acquisition — that of Auto-Cure. This strategic move was officially formalized by Mohamed Azab, the Co-founder and CEO of Grinta, and Mohamed Rezk, one of the Co-founders of Auto Cure.
Auto-Cure, which came into being in 2022, operates as a B2B e-commerce platform tailored to the requirements of independent pharmacists located in Alexandria, Egypt. The platform was established by Mohamed Rezk and his partner Amr Kamel. Following the acquisition, Mohamed Rezk will take on a role as a partner within Grinta, leading the Commercial Team.
The enthusiasm surrounding this acquisition is palpable, as expressed by Mohamed Azab after the signing. He views this strategic move as a significant step toward the overarching goal of revolutionizing the pharmaceutical supply chain in Egypt and beyond by delivering customer-centric, data-driven, and fintech-enabled solutions. Azab further emphasized that the acquisition showcases Grinta’s unwavering dedication to enhancing value for their clientele and expanding their foothold within the Egyptian market.
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Since its inception in 2021, Grinta has successfully integrated two other companies into its portfolio — PH Store, a digital platform similar in nature and focused on northern Egypt, and EME, a software development enterprise boasting a robust technical team. This strategic maneuver has facilitated rapid expansion across nine governorates within Egypt. This expansion has led to Grinta effectively serving over 7,000 pharmacies and fulfilling more than 200,000 orders.
Mohamed Rezk, Founder and CEO of Auto-Cure, expressed his excitement about joining forces with Grinta. He noted that their shared commitment to digitizing the market and ensuring customer satisfaction has paved the way for this collaboration. Rezk believes that this partnership opens up an array of possibilities and envisions extending their influence beyond Alexandria to encompass the broader Middle East and Africa.
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Over the course of the past 18 months, Auto-Cure has processed an impressive 5,000 orders, meeting the needs of 450 pharmacies. The startup, which is at the forefront of digitizing the pharmaceutical market, operates through a multi-vendor B2B platform. This service empowers pharmacists by providing them with comprehensive visibility into market supply and the most competitive prices offered by various vendors. The platform enables seamless shopping and consolidation of shipments, thereby granting pharmacists unparalleled access to optimal pricing and enhancing their market reach. This technological solution is underpinned by efficient operations and high-quality support.
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