Ghanian health startup Mpharma is planning to buy Kenya’s second-largest pharmacy chain, Haltons, a deal which is so far valued at $9.7 million and is awaiting regulatory approval.
If successful, m Pharma will take control of 20 Halton’s store across Nairobi and Mombasa as it seeks to expand in East Africa.
MPharma Greg Rockson, the founder of MPharma, said that the decision to buy Haltons was informed by the possible benefits of enhancing inventory services via both front end and back end and eventually help African pharmacies drive down their biggest costs
“Halton’s will serve as testing ground for us to develop patient-centered services we can provide to our franchise pharmacies. This way we can encourage lower margins and pass the savings on to the customers.” He was quoted by Quartz.
MPharma will acquire Halton from private equity firm Fanisi Capital, but senior management at Halton’s will retain a stake in the business.
