Home Business MYDAWA raises Ksh 2.8B as regional expansion gains traction

MYDAWA raises Ksh 2.8B as regional expansion gains traction

MYDAWA CEO Pricilla Muhiu. PHOTO | Courtesy

E-healthcare provider MYDAWA has announced the acquisition of Uganda’s largest pharmacy chain Guardian Health for undisclosed amount.

The acquisition follows a Ksh 2.8 billion ($20M) capital injection from Alta Semper, an international private equity fund targeting to democratize access to health and well-being, having first backed the company in October 2021.

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“This investment marks our entry into digital healthcare in Africa, which we see as a major growth area and an extremely important drive of health outcomes across the continent in the coming years. MYDAWA was the logical choice for us as their proprietary technology, underpinning a scalable business model along with regulatory knowhow and market entry experience mapped extremely well to our own strategy,” said Afsane Jetha, Alta Semper Chief Executive Officer.

At the same time, the firm formally announced the appointment of Priscilla Muhiu as chief executive officer to replace Neil O’leary who is also the founder of the company.

“MYDAWA is delighted to formally announce the appointment of Priscilla Muhiu, who was most recently at Glovo, to lead its Kenyan business. Under Priscilla’s leadership MYDAWA has already seen significant expansion of both consumer and business to business activity,” the firm said in a statement.

MYDAWA says the acquisition of Guardian Health which has 19 stores in key locations in Kampala and neighbouring regions is part of its expansion strategy to consolidate its operations in the region and internationally.

“It is the ideal launchpad on which to overlay the e-health capabilities of MYDAWA – simultaneously making it both the biggest and most advanced e-health offering in Uganda. MYDAWA is dedicated to continuing its growth trajectory while constantly improving service for customers in Uganda. MYDAWA continues to be on the lookout for potential acquisitions and collaborations with promising start-ups across Africa,” said Muhiu.

The firm which first began operations as an online pharmacy in Kenya is now a fully regulated one-stop-shop for healthcare with access to consultations, tests, referrals, a continuous help desk, accessible through an omni channel delivery method based on customer preferences.

Purchasers of prescription medicine through its platform also have access to medical advice from professionals and pharmacy technicians who help deliver medicines to the customer’s door.

The firm is says to complete the service offering, it is opening walk in pharmacy/health centres in Kenya, the newest being the successful launch of a combined full-service pharmacy, health centre and fulfilment centre in Mombasa, Kenya.

MYDAWA recently received a major grant from the Bill and Melinda Gates Foundation to expand its service offering into telemedicine and distribute HIV products in the region.

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