Kenyan health-tech firm and e-pharmacy platform, MYDAWA, has received a $20 million capital injection from private equity investor Alta Semper Capital.
Similarly, the health-tech startup has also announced the acquisition of Uganda’s Guardian Health for an undisclosed sum. The pharamacy 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, MYDAWA 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.
Over the years, MYDAWA 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.
The new investment marks Alta Semper’s entry into digital healthcare in Africa in the region. CEO Afsane Jetha says their focus is on market-leading businesses 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. 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.” Afsane said.
“With consumer spending in Africa projected to reach $2.1 trillion by 2025, this represents one of the continent’s largest business opportunities. Therefore, the investment into MYDAWA is part of our strategic aim at meeting this growing demand by investing in locally produced and value-priced consumer goods and services,’’ she added.
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.