mPharma acquires majority stake in HealthPlus

mPharma, Africa's leader in patient-centric, technology-driven healthcare, has acquired a majority stake in HealthPlus, Nigeria's leading pharmacy chain. mPharma and former investor, Alta Semper, have signed an agreement leading to the acquisition of a majority stake in the HealthPlus Group.

According to mPharma CEO and co-founder Gregory Rockson, the acquisition is in line with the company's mission to build a healthy Africa by providing life-changing health services and medicines to improve health outcomes for patients. He said the acquisition of pharmacy chain HealthPlus by mPharma completes mPharma's deep commitment to increasing patient access to affordable and quality healthcare in Nigeria.

"mPharma is building on its long-standing commitment to Africa by reinventing primary healthcare in some of the continent's most vulnerable communities. We continue to transform community pharmacies into primary care hubs to deliver healthcare affordable and accessible 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 .

In her remarks on the acquisition, Afsane Jetha, co-founder and CEO of Alta Semper Capital, said: "We are delighted with HealthPlus' partnership with mPharma. We have a strong belief in mPharma's strategy of revolutionize primary care across Africa and believe mPharma is the ideal steward for HealthPlus' next chapter of growth.We believe mPharma's vision is consistent with that of HealthPlus shareholders and employees, and we are excited looking forward to supporting the business through a relationship with mPharma in the future.”

While mPharma plans to continue to retain and strengthen HealthPlus as Nigeria's leading pharmaceutical brand, the acquisition will also provide expansion opportunities for mPharma in Nigeria and a platform to expand the sales footprint retails from mPharma's mutti pharmacies across the continent through its fast-growing QualityRx program. Powered by mPharma's proprietary Bloom software, HealthPlus will provide patients with access to affordable primary care services at its pharmacies, in addition to affordable, quality medicines it currently sells in 12 states across Nigeria. Pharmacy chain HealthPlus will also launch mPharma's health membership program, mutti®, which will offer existing and new customers discounts, interest-free "heal now-pay later" plans, free health exams and other primary care services.

By combining HealthPlus pharmacies with mPharma's growing portfolio of Partner Multi-Pharmacies and GoodHealth Shops (PPMV), mPharma's network will grow from 224 to over 320 health facilities in Nigeria and provide care to over 100 000 Nigerians every month.

mPharma is a technology-driven, patient-centric healthcare company. We offer innovative solutions including vendor-managed inventory services, retail and primary care solutions for community pharmacies, and data analytics. Our mission is to build a healthy Africa by increasing access to medicines for all patients at reduced costs while ensuring and preserving quality. Founded in 2013 and based in Ghana, we have expanded our operations to 9 other African countries, Nigeria, Zambia, Kenya, Malawi, Rwanda, Ethiopia, Gabon, Togo and Uganda. We currently have a network of over 400 pharmacies in our key markets, serving over 100,000 patients each month.

Our partner pharmacies across Africa have dispensed millions of lifesaving medicines to patients.

HealthPlus Limited is Nigeria's First Integrative Pharmacy, Nigeria's Leading Pharmacy Chain. HealthPlus is committed to helping people achieve optimal health and vitality, while delivering superior value to stakeholders. Most importantly, HealthPlus has also launched Nigeria's first integrative online pharmacy and also has a mobile app, allowing customers to interact in real time with certified healthcare professionals.

Alta Semper Capital is an institutional private equity firm...