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mPharma Acquires Majority Stake in HealthPlus

mPharma, Africa’s leading patient-centered 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 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. 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.

“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 to support 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, in addition to 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.

About mPharma

mPharma is a patient-centered technology-driven healthcare company. We provide innovative solutions, including vendor-managed inventory services, retail and primary care solutions for community pharmacies, and data analytics. Our mission is to build an Africa in good health by increasing access to drugs for all patients at reduced costs while assuring and preserving quality. Founded in 2013 and headquartered 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 more than 100,000 patients each month.

Our partner pharmacies across Africa have dispensed millions of life-saving drugs to patients.

About HealthPlus Limited

HealthPlus Limited is Nigeria’s first integrative pharmacy, the leading pharmacy chain in Nigeria. HealthPlus is committed to the mission of helping people achieve optimum health and vitality, while delivering superior value to stakeholders. More importantly, HealthPlus also launched Nigeria’s first integrative e-pharmacy and also has a mobile app, allowing customers to interact real-time with certified healthcare professionals.

About Alta Semper Capital

Alta Semper Capital is an institutional private equity manager committed to democratizing access to generational health and well-being across growth markets. Alta Semper was founded by Afsane Jetha, Ronald Lauder (Chairman of Clinique Laboratories and former US ambassador to Austria), Richard Parsons (Chairman of Rockefeller Foundation and former CEO of Time Warner Group) and is dedicated to sustainable investing in the healthcare, consumer and technology sectors, having invested in market-leading healthcare business in Egypt, Nigeria, Morocco, Kenya, and Pakistan.

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