- New funding is to accelerate growth;
- Utilize emerging opportunities in global healthcare
Alta Semper Capital, which controls the majority shareholding in HealthPlus, the Nigerian headquartered leading West African pharmaceutical chain, is planning to inject fresh funds into the business, it has been confirmed.
Information about this plan is coming amid the announcement of the appointment by secondment of Chidi Okoro as HealthPlus’s Chief Transformation Officer with a mandate to “optimize day-to-day management and elevate the business to novel scale and profitability,” the company said in a statement it issued through its media consultants.
The announcement of fresh capital injection by Alta Semper Capital, would provide comfort to other shareholders and further assurance about its intention for the business by one of the leading healthcare and consumer private equity firms, especially with regards to its avowed commitment to HealthPlus in the past.
It is understood that Alta Semper is looking to put in fresh capital in order to accelerate the company’s growth and enable it utilize emerging opportunities in global healthcare. HealthPlus is one of the healthcare chains that have strengthened their footprints in the wake of the COVID-19 pandemic, taking advantage of its strong brand, diverse product mix and wide footprint to uniquely position itself to be on the forefront of supply chain innovation and strategic expansion.
The appointment of Okoro as CTO is being interpreted by analysts as representing a desire to push a transformational agenda in the healthcare chain as it operates in a sector that has becoming increasingly crowded in the country. Bukky George, who founded the company in 1999 continues to be a shareholder and director, the statement assured. “I would like to recognise HealthPlus’ role in spearheading the evolution of modern pharmacies across Nigeria and scaling retail capabilities in the industry overall. I am incredibly excited to now have the opportunity and the resources to take the platform to the next level, at a time of unrivalled opportunity for the sector. I look forward to working with all stakeholders to achieve even greater things in the future,” Okoro is quoted as saying upon his appointment to the role.
The new CTO of HealthPlus is a licensed pharmacist and management executive with over thirty years of multinational and multisector experience, spanning leadership roles in pharmaceuticals, personal care, food, and telecommunications, the statement added.
The company was founded in 1999 as Nigeria’s first integrated pharmacy platform and the largest and fastest-growing pharmacy chain in West Africa, operating over seventy retail pharmacy and beauty care locations.
It is the largest private employer of pharmacists in Nigeria, with extensive product portfolio that includes Prescription-Only-Medicines, Over-the-Counter Medications, and personal care items, with a strong emphasis on local procurement and an active drive for community building.