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mPharma Acquires Majority Stake in Nigeria’s HealthPlus

by with No Comment Africa StartupsGhana StartupsMobile HealthNigeria

mPharma acquisition aligns with the company’s mission to build an Africa in good health by delivering life-changing healthcare services and drugs to improve health outcomes for patients.

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

According to the Chief Executive Officer and Co-founder of mPharma, Gregory Rockson, the acquisition aligns with the company’s mission to build an Africa in good health by delivering life-changing healthcare services and drugs to improve health outcomes for patients.

He stated 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.

Gregory Rockson, Chief Executive Officer and Co-founder of mPharma

“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

In her remarks on the acquisition, Afsane Jetha, Co-founder and CEO at Alta Semper Capital, said: “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 about supporting the business through a relationship with mPharma going forward”.

While mPharma plans to continue to keep and strengthen HealthPlus as Nigeria’s leading pharmacy brand in Nigeria, the acquisition will also provide expansion opportunities for mPharma within Nigeria and a platform to expand mPharma’s mutti pharmacy retail footprint across the continent 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 and affordable and quality medications it currently retails across 12 states in Nigeria.

The HealthPlus pharmacy chain will also 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 (PPMVs),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.

Distributed by APO Group on behalf of mPharma.

Female African Call center employee

Ghana’s mPharma To Launch 100 Virtual Centres Across Africa

by with No Comment AccraAfrica StartupsAfrican EntrepreneursEntrepreneurship & StartupsFeaturedGhana StartupsHealth TechnologyTechnology

MPharma, a Ghanaian health IT business, plans to create 100 virtual centres in seven African regions to deliver quality primary care in the communities they serve.

MPharma, a Ghanaian health tech startup, is set to open 100 virtual centres across seven markets in Africa over the next six months.

The company, founded by CEO Gregory Rockson, has the goal to deliver quality primary care in the communities they serve by providing medical examinations.

MPharma already provides about 10,000 physician consultations to patients at the startup’s network of pharmacies. It also managed to raise over $50 million since inception; this includes a Series C round of $17 million, led by U.K.’s development arm CDC Group last year.

Other existing investors include Silicon Valley backer Jim Breyer of Breyer Capital, Shravin Bharti Mittal of Bharti Global Limited — an Indian Conglomerate, Social Capital, and Golden Palm Investments.

The company said the new centres would allow patients “to get examined remotely during a virtual consultation” making its approach to digital outreach “unique.”

It’s a big move and one that will be beneficial to those struggling to get care. According to World Health Organization data, countries across sub-Saharan Africa have an average of 0.23 doctors for every 10,000 people. This is against the best ratio of 84.2 doctors in some of the most developed countries.

“We saw this as an opportunity to leverage our pharmacies as virtual doctor offices so that patients could get examined remotely during a virtual consultation. This is what makes mPharma’s telemedicine unique,” Rockson told TechCrunch.

Patients around the continent — in Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda, and Ethiopia, where mPharma has a presence, are set to benefit from the virtual consultations, and it plans to raise more funding to further grow its business across the continent.

“We currently have five centres open. We have done an assessment of all our pharmacies and plan to establish the Mutti Doctor locations (the virtual centres) based on the needs of the community. We have already identified the first 100 locations,” Rockson added.

The African pharmaceutical industry is anticipated to expand dramatically as the population grows, creating a place for innovation and a market for companies delivering mobile health solutions.

According to the Deloitte research, East Africa is the most attractive region in Africa for healthcare investment due to its integration and expanding economy, which is backed by diverse industries such as agriculture and tourism. Increased demand for services and goods as consumers’ purchasing power grows, it is predicted, would lead to a rise in healthcare and telecommunications spending.

mPharma, founded in 2013 by Rockson, Daniel Shoukimas, and James Finucane, is one of Africa’s most well-funded companies, having raised over $50 million since its creation, including a $17 million Series C investment sponsored by the United Kingdom’s development arm CDC Group last year. Silicon Valley supporter Jim Breyer of Breyer Capital, Shravin Bharti Mittal of Bharti Global Limited — an Indian conglomerate, Social Capital, and Golden Palm Investments are among the existing investors.

warehouse-pharmacy

Gabon’s NPO Hires Ghana’s mPharma to Automate Its Public Health Sector.

by with No Comment Africa StartupsGhana StartupsMobile for HealthMobile Technology

Gabon’s National Pharmaceutical Office (OPN) has signed a technical partnership agreement with mPharma, a renowned Ghanaian company in the public health sector.

The National Pharmaceutical Office (OPN), a public purchasing center for medicines and other health products, recently placed under the management of the Gabonese Strategic Investment Fund (FGIS), has signed a technical partnership agreement with mPharma, a renowned Ghanaian company in the public health sector.

mPharma specializes in providing technology solutions for the management and distribution of medical products across Africa. This agreement was signed on September 21, 2021, in Libreville, in the presence of Mr. Simon Essono, Acting Director-General of OPN, and Mr. Gregory Rockson, founder and CEO of mPharma.

mPharma’s international expertise will enable the automation of OPN’s management and distribution systems, which currently constitute one of the main obstacles to the proper conduct of its public service mission. mPharma will also assist in the setting up of software and technological tools adapted to OPN’s needs, as well as for the rationalization of the supply chain.

mPharma will provide the OPN with specialized staff and set up a training program so that the teams can quickly operate independently. The ambition is to quickly execute the transfer of skills to ensure that this operational overhaul generates a sustainable impact.

Through this Agreement, mPharma undertakes in particular to:

  • provide software to automate the management and distribution systems of the OPN, which currently constitutes one of the main obstacles to the proper management of the drug;
  • provide performance assessment services for the Office;
  • facilitate the OPN’s access to the global network of MAPS providers;
  • provide the OPN with specialized collaborators and a training program as part of the transfer of skills.

“Along with FGIS’ 5 billion FCFA investment in the development of OPN, the technical assistance partnership with mPharma allows us to bring together all the necessary elements for an effective and sustainable operational restructuring. The project is part of the Plan for the Acceleration of the Transformation (PAT) which was envisioned by the President, H.E. Ali BONGO ONDIMBA. We are excited to write this new chapter in the history of OPN alongside an African start-up recognized internationally for its expertise.” said Mr. Simon Essono, OPN’s Acting Director General.

“We are delighted to contribute to OPN’s public service mission for the benefit of the Gabonese population. We are grateful to the Gabonese authorities and to the FGIS and OPN teams for their trust. The solutions we offer have been proven in other countries in Africa, and we are confident that Gabon will be no exception,” added Gregory Rockson, founder and CEO of mPharma.

About OPN

The National Pharmaceutical Office (OPN) is the public purchasing office for medicines and other health products. Its mission is to supply public health structures as a priority, and it has a monopoly on all medicines in hospital form. Following the adoption of a government reform in 2020, the FGIS took over the management of OPN and injected 5 billion CFA francs to bring OPN back into balance and guarantee universal access to medicines, especially for the poorest.

About mPharma

mPharma is a renowned Ghanaian public health company specializing in drug management and supply chain development. Founded in 2013, the African multinational company has developed proprietary supply chain software that powers drug distribution to a network that includes 1005 hospitals and pharmacies. mPharma has operations in 8 African countries: Ghana, Nigeria, Ethiopia, Kenya, Uganda, Rwanda, Zambia, and Malawi.

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Ghana’s mPharma secures $9.7M of the $12M it sought for its Series B

by with One Comment Africa StartupsFundingsGhanaMobile HealthMobile TechnologyMobile Technology StartupsStartupsTechnology

Ghana-based mPharma, whose mission is to make prescription drugs accessible and affordable, has secured $9.729,000 in Series B funding. We are not yet sure of the investors that participated in the round but can confirm the figure basing on the companies SEC filing made five days ago.