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HealthPlus secures $18m Investment from Private Equity Firm Alta Semper

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HealthPlus secures $18m Investment from Private Equity Firm Alta Semper

Nigerian-owned HealthPlus, dubbed West Africa’s leading retail pharmacy chain has partnered with London-based private equity manager Alta Semper Capital.

According to BusinessWire, “Under the terms of the agreement, Alta Semper is investing US$18 million into HealthPlus, which will enable the company to expand its retail footprint and enhance its competitive position.”

The partnership is Alta Semper’s first investment in Nigeria.

HealthPlus founded by Bukky George, a UK-trained pharmacist, in 1999, provides healthcare products such as prescription and over-the-counter medicines, nutritional supplements, natural remedies, home medical equipment, mobility aids and pharmacy services.

Commenting on the investment, George, who is HealthPlus’ CEO, said:

We believe Alta Semper is the right partner for our next stage of growth. Alta Semper’s focus on the healthcare sector, as well as its ability to invest patient and flexible capital, will allow us to grow strategically across Nigeria and further our mission to provide high quality and affordable healthcare products and services to a market that is large and growing. Our vision is to be Africa’s #1 for pharmacy, wellness and beauty. We believe we have found a partner who can help us achieve this goal over the coming years.

Managing Partner & CEO of Alta Semper Afsane Jetha said about the investment:

We are very excited about our partnership with HealthPlus, a remarkable example of a homegrown company that has become one of the largest specialty retailers in West Africa. We believe HealthPlus is well-positioned to take advantage of the grossly under-penetrated Nigerian pharmacy retail market and meet the growing demands of Nigerian consumers, as well as to expand regionally into neighbouring countries.

We believe that this is an opportune time to enter the Nigerian retail market and invest into a market-leading player such as HealthPlus, which presents a unique risk-adjusted entry strategy, given its existing size and geographic scope. We are looking forward to working closely with Bukky George and her team to further unlock the Company’s growth potential.

4 Comments

  1. Cozygal

    March 30, 2018 at 3:29 pm

    Bella? This news is quite stale you know. BusinessWire published it on the 27th, Thisday on the 28th. You guys didn’t even have to chase the story, all you had to do was copy and edit and paste. Why serve us stale, then? I know some people might be seeing this for the first time and so it news to them. However, it’s something to worry about if you claim to give us scoop and it’s not really scoop, news that’s three days old. Maybe you should just change those headings to ‘information’.

    I keep saying it. If you guys are stretched, just be like The Sun in the UK that Pays its people to send in stories, since your research team can’t be bothered to bring news as it’s breaking. That way, all you have to do is verify and work with it.

    • Aare farmland

      March 30, 2018 at 6:43 pm

      We will see. If life in Nigeria is to pursue wealth and relevance, when some people have it or some, their is less hunger. Hopefully with firms like Healthplus, the equity partners can push them to strive higher and higher.

    • Physio Tinu

      March 30, 2018 at 10:59 pm

      Na wa oh. Easy on Bella Naija abeg. Some of us are hearing this for the first time. We don’t have the luxury of site hopping for Naija news so we trust Bella naija to give is curated news from our beloved Nigeria.
      Bella Naija, nothing do you joor

  2. tunmi

    March 30, 2018 at 4:31 pm

    yeah, I second @Cozygal. Please don’t take your readership for granted BN

    and woahhhh this is pretty good news

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