Kenyan health-tech firm and e-pharmacy platform, MYDAWA, has received a $20 million (Sh2.8 billion) capital injection from private equity investor Alta Semper Capital.
The new investment marks Alta Semper’s entry into digital healthcare in Africa.
Similarly, the health-tech startup has also announced the acquisition of Uganda’s Guardian Health for an undisclosed sum.
The pharmacy chain operates around 19 new stores in key locations in Kampala and neighbouring regions.
MYDAWA says that this acquisition is its first step in international expansion as it continues to seek potential acquisitions, collaborations and promising startups situated across Africa.
Founded in 2016, the health tech firm provides consumers across the region easy access to safe, affordable healthcare products and medical services, through a proprietary technology-based solution.
The company controls and provides all its operations including logistics in-house to ensure service levels.
The firm has grown to become a fully regulated one-stop shop for healthcare with access to consultations, tests, referrals, and a continuous help desk, all accessed by whatever channel suits the customer.
Semper Capital Afsane Jetha says its focus is on market-leading businesses with highly diversified, politically stable, and fast-growing economies.
"MYDAWA was the logical choice for us as their groundbreaking technology, underpinning a scalable business model along with regulatory know-how and market entry experience mapped so well to our own strategy,'' Afsane said.
She added that the drive to increase access to good advice and safe and affordable medication is core to our overall mission of democratizing access to health and wellbeing across the African continent.
“With consumer spending in Africa projected to reach $2.1 trillion by 2025, this represents one of the continent’s largest business opportunities''.
At the same time, MYDAWA has also appointed Priscilla Muhiu to lead its Kenyan business. Priscilla is the former general manager for Glovo Kenya, a position she has held since September 2020
