Medikabazaar secures US$75 million series C funding

INDIA – Healthtech startup Medikabazaar has announced a 75 million USD investment in a series C round led by PE fund CREAEGIS, the UK’s development finance institution CDC Group, and other existing investors. The round brought together existing investors, including Belgium-based Ackermans & van Haaren (AvH), HealthQuad Advisors, Japan-based Rebright Partners, Continental Europe-based Kois Holdings, and Sumitomo Mitsui Financial Group. UK-based CDC Group is the largest investor in this round which infused Rs 131.3 crore followed by Creaegis Limited, CIF and HealthQuad Fund who invested Rs 106.8 crore, Rs 58.2…

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South Africa gets major investment to treat Covid-19, TB, cancer, HIV

SOUTH AFRICA – United States-based multinational conglomerate NantWorks has entered into an agreement with the Council for Scientific and Industrial Research (CSIR) and the South African Medical Research Council (SAMRC) for the transfer of manufacturing technology for Covid-19 and cancer vaccines and next-generation cell-based immunotherapies. This is a major boost to the country’s healthcare system in its efforts to treat infectious diseases such as cancer, HIV, tuberculosis and, more recently, Covid-19. As of 2019, South Africa had 7.5 million people living with HIV, 200,000 new HIV infections and 72,000 AIDS-related…

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World Bank approves financing to improve women and girl’s access to health in Niger

NIGERIA – The Nigerien government will be able to provide its population with better health coverage with financing approved by the World Bank. This will be enabled by a 15-year multiphase program to innovative and comprehensive nutrition and health interventions to improve health system efficiency, equity, and sustainability, as well as boost girls’ and women’s empowerment. Niger’s health system faces immense challenges. Despite progress in recent years, the country has a high under-five mortality rate of 77 deaths per 1,000 live births in 2020 and stunting continues to have devastating…

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HOPE Consortium, Astral Aviation partner to enhance vaccine distribution solutions in Africa

KENYA – The HOPE Consortium has partnered with Kenya-based cargo airline, Astral Aviation, to offer vaccine distribution solutions to Africa. The partnership highlights the HOPE Consortium’s efforts in reinforcing partnerships that focus on fighting the COVID-19 global pandemic, as well as fulfilling the organisation’s mission as a global logistics facilitator, by aiding in vaccine delivery. As part of the agreement, both entities will focus on intra-African cooperation to enhance vaccine distribution within the African continent. The HOPE Consortium will utilise Astral Aviation’s comprehensive network, technologies, and market expertise, to support…

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Cuban government throw its weight behind Kenya’s research and pharmaceutical fields

KENYA – Kenya and Cuba have pledged to enhance bilateral relations in the field of research, vaccines and pharmaceutical products as the former moves to implement further reforms in the health sector. In a meeting with Health Cabinet secretary Mutahi Kagwe on Tuesday, outgoing Cuba’s ambassador to Kenya, Ernesto Gómez Díaz said his country remains committed to provide technical support to Kenya as demonstrated by the presence of specialist Cuban doctors in the country who are part of a medical exchange programme between the two nations. “We already have 53…

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Takeda invests US$10.8 million to help strengthen West Africa’s health supply chain

GHANA – Japanese pharmaceutical giant, Takeda, has invested close to US$10.8 million (JPY 1.3 billion) through its global CSR programme to help West African countries improve on their health supply chain capacities. The funds, which will be wired through the World Food Programme (WFP), build on previous successes achieved through this collaboration, and the new five-year plan only sediments their commitment to better livelihoods in Africa. Takeda and WFP’s existing partnership has focused on strengthening in-country public health supply chains and supporting long-term pandemic preparedness, combining Takeda’s financial support with…

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USA grants Mozambique government US$800,000 to further Malaria research

MOZAMBIQUE – The U.S. Government, through the United States Agency for International Development (USAID), has provided an US$800,000 grant to the Centro de Investigação em Saúde de Manhiça (CISM) for malaria and maternal and child health research. The grant will fund studies on the effectiveness of the pneumococcal vaccine and anti-malaria medicines and treatments. USAID, CISM and the Mozambican Ministry of Health (MISAU) collaborated to identify these topics as critical to improving malaria and maternal and child health care in Mozambique. USAID support will allow CISM to gather the most…

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Walgreens invests US$970M to grab controlling stake in Shields Health Company

USA – Walgreens Boots Alliance, a global leader in retail pharmacy, has committed approximately US$970 million to acquire a majority stake in Shields Health Solutions to expand its specialty pharmacy business. The investment brings Walgreens’ total stake in Shield to 71%, and the company has an option to acquire the remaining equity interests in the future. The Illinois-based company had taken a minority stake in Shields in 2019. Founded in 2012, Shields Health Solutions helps hospitals provide specialty pharmacy services. Specialty pharmacies are designed to deliver medications with unique handling,…

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ECA, ABC Health Partner to increase access to health commodities

AFRICA – The United Nations Economic Commission for Africa (ECA), African Business Coalition for Health (ABCHealth) and National Institutes of Health (NIH), have successfully hosted a virtual Africa Investment Summit on Health 2021(AIS) on the margins of the 76th United Nations General Assembly. The summit convened African Heads of Government and Ministers, continental, regional and global business leaders, and Development Institutions together to discuss strategies that will significantly increase access to vital health commodities and supplies in Africa leveraging the African Continental Free Trade Agreement (AfCFTA) and African Medicines Agency…

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Healthech startup Sotech raises US$1m pre-Seed funding round to grow its market

EGYPT – Sotech, a healthech and IoT solutions startup, has successfully raised US$1 million in its latest pre-Seed funding round led by Innlife investments and key corporate investor Al Raya Kuwaiti. The Egypt-based firm intends to use the freshly raised capital to extend its operations to 500 locations and grow its market beyond Egypt, including Mecca and Madina. Founded in 2020 by a group of Tech, Marketing, and Healthcare enthusiasts during the pandemic, the Egypt-based startup specialises in smart IoT, trackable OOH advertising, and data gathering. By providing fully integrated…

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