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.

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