NIGERIA – Africa’s leading patient-centered technology-driven healthcare company mPharma has completed its previously announced acquisition of Nigerian pharmacy retail chain HealthPlus Group, the firm announced on its website.
mPharma announced that the Ghanaian healthtech company and the London-based private equity firm Alta Semper have signed an agreement leading to the acquisition of a majority stake in the HealthPlus Group.
Under the terms of the acquisition, mPharma is deepening its long-standing commitment to Africa by reimagining primary healthcare in some of the most vulnerable communities on the continent while building HealthPlus as Nigeria’s leading pharmacy brand in Nigeria.
The acquisition will provide expansion opportunities for mPharma within Nigeria as part of the firm’s expansion plans to strengthen HealthPlus as Nigeria’s leading pharmacy brand as well as a platform to expand mPharma’s mutti pharmacy retail footprint in Africa through its fast-growing QualityRx program.
Powered by mPharma’s proprietary Bloom software, HealthPlus will provide patients access to affordable primary care services within its pharmacies, in addition to affordable and quality medications it currently retails across 12 states in Nigeria.
mPharma further disclosed that the HealthPlus pharmacy chain will launch mutti®, mPharma’s health membership program, which will provide both existing and new customers with discounts, interest-free “heal-now-pay-later” plans, free health screenings, and other primary care services.
“By combining HealthPlus pharmacies with mPharma’s growing portfolio of partner mutti pharmacies and GoodHealth shops, mPharma’s network will grow from 224 to over 320 health facilities in Nigeria and will provide care to more than 100,000 Nigerians each month,” said the healthtech company.
Chief Executive Officer and Co-founder of mPharma Gregory Rockson said the acquisition is in line with the company’s mission to build an Africa that is in good health by delivering life-changing healthcare services and drugs to improve health outcomes for patients.
Gregory Rockson further said that the acquisition of the HealthPlus Pharmacy chain by mPharma complements mPharma’s deep commitment to increasing patient access to affordable and quality healthcare in Nigeria.
“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,” added Rockson.
Commenting on the acquisition, Afsane Jetha, Co-founder and CEO at Alta Semper Capital, said: “We are delighted about HealthPlus’ partnership with mPharma.”
Afsane Jetha reaffirmed that the former investor has 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,” reiterated Afsane Jetha.
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