Alta Semper exits Nigerian pharmacy chain to VC-backed healthtech firm

Image Credit: mPharma

Alta Semper Capital has sold its stake in a Nigerian pharmacy chain to a venture-backed healthtech business headquartered in Ghana. The London-based private equity firm first backed the business, HealthPlus Group, in 2018, investing $18 million on behalf of its first fund and taking two seats on the company’s board of directors. Now that it has sold its holding to the healthtech, mPharma, Alta Semper fully exits the business and cedes a majority stake to the acquirer. The value of the transaction and the returns earned by Alta Semper from the disposal have not been disclosed.

mPharma plans to maintain and invest in the HealthPlus brand in Nigeria which it will leverage to take advantage of expansion opportunities for its own offering across the country. mPharma’s proprietary software technology and “mutti”, its branded health membership program which offers customers a range of discounts, payment plans, complimentary healthcare screenings, and other primary care benefits will be integrated with HealthPlus’s offering to provide patients access to affordable healthcare servu=ces within its pharmacies.

To read this article, you must be a paid subscription member. (Current members login here)


Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at] today.