1MG now valued at US$450m after Tata group buys 51% of its stake

INDIA – IMG, an e-pharmacy retailer incorporated in 2015 that also offers teleconsultation services and operates three diagnostics labs is now worth US$450million after Tata group buys 51% of its stake to become a majority shareholder. Tata group, is an Indian public multinational conglomerate manufacturer of automobiles, airplanes and with previous affiliation to the pharma industry bought stakes worth US$230million. The e-pharmacy venture, 1MG was valued at US$242 million and had already raised US$156 million worth of capital prior to Tata group’s mega investment with a recorded a loss of…

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PharmEasy achieves US$1.8B valuation after B Capital’s investment

INDIA- PharmEasy, an e-commerce drug supply store is now valued at US$ 1.8B after B capital bought stakes worth US$ 20M of the company. Prior to the investment, Pharmeasy was valued at US$ 1.5billion and is among the few Indian startups that have been able to achieve a unicorn status. B capital, a multi-stage global venture capital firm, bought the stakes from Everstone Capital an Indian based investment company that decided to sell part of the PharmEasy stakes. Earlier this year, PharmEasy closed the acquisition of smaller rival Medlife and…

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Orange targets Africa E-health as it partners with Axa Assurance to buy DabaDoc

MOROCCO – Orange has teamed up with Axa Assurance in Morocco to acquire a majority stake in health-technology company DabaDoc, as part of the group’s long-term goal to establish itself as a multi-service digital operator in Africa and the Middle East. The financial terms of the transaction have not been disclosed. Orange Africa and Middle East and Axa Assurance Maroc will jointly acquire the stake, with the pair running DabaDoc alongside its founders. DabaDoc, which was set up in 2014, is an online platform offering access to healthcare services in…

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Manipal Hospitals acquires Vikram Hospital in a move to expand operations in India

INDIA – Manipal Hospitals, the second largest hospital chain in India, has acquired 100% stake in Bengaluru-based multi-specialty hospital Vikram Hospital for a USD 47.9 million. The hospital which is working to expand its operation in Eastern India also acquired Columbia Asia Hospitals in April this year for about 300 USD. Manipal hospitals now has ten operational hospitals in Bengaluru city. Set up in 2009, Vikram Hospital is a 200-bed tertiary care facility located in the central business district and is best known for its clinical expertise in the fields…

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Adenia acquires Africa Biosystems Limited to expand operations in East Africa

KENYA – Adenia Partners, a private markets investment firm committed to responsible investing and a sustainable Africa, has announced the complete acquisition of Africa Biosystems Limited (ABL). ABL is a distributor of state-of-the-art life sciences equipment and consumables for Eastern African markets. The company, which has been in operation for the past 22 years, has supplied various equipment used to conduct research and diagnosis. Their equipment which is used by government, non-governmental organizations, academic institutions, and the private sector sweeps across animal, human and crop science. This acquisition will facilitate…

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PharmEasy acquires Medlife to bolster healthcare service delivery in India

INDIA- Medlife has discontinued operations in India to join PharmEasy, one of India’s top online pharmacy and medical care platforms. This newly formed collaboration is expected to deliver innovative solutions toward delivering better experiences to consumers, delivery personnel and retail partners in India. The merger is expected to complement PharmEasy’s ever growing efforts to simplify healthcare and impact lives in India’s healthcare space. The transaction happens at a time when the e-pharmacy market is experiencing exponential growth, largely fuelled by restriction of movement and social distancing practices as per COVID-19 regulations. According…

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Health and beauty company Clicks to acquire Pick n Pay’s pharmacy business

SOUTH AFRICA – Health and beauty company Clicks, plans to acquire the retail pharmacy business of Pick n Pay, Clicks Group has said in a statement. Clicks is the largest retail pharmacy network in the country. The acquisition will include 25 in-store pharmacies that will be rebranded to Clicks which will take the national presence of the health and beauty retailer to 632 pharmacies. In terms of the proposed transaction, Clicks will acquire the pharmacy licences and ethical drug stock, while all staff employed in the pharmacies will transfer from…

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