Health
HealthPlus: Has mPharma Bought a Lemon?

Modebayo Adesanmi
Last week, mPharma, Africa’s leading health technology company, issued a statement in which it claimed it has acquired a majority stake in HealthPlus, Nigeria’s leading pharmacy chain. A video shared on the Twitter page of Gregory Rockson, mPharma’s Chief Executive Officer, showed him explaining directly to HealthPlus staff why the acquisition was made and assuring them of mPharma’s commitment to keep the HealthPlus dream alive.
This is coming almost two years after HealthPlus’ foreign equity partners, Alta Semper Capital UK, led by Afsane Jetha, and their local agents, led by Chidi Okoro, masterminded a hostile takeover of the company from its founder/Chief Executive Officer, Bukky George, following an unsubstantiated board resolution.
With coercive force provided by armed mobile policemen, HealthPlus staff were made to handover their laptops, passwords and other work tools. Some of the company’s staff were also arrested. This ensured a seizure of HealthPlus premises, IT platforms and eventually the company operations.
The move saw George, owner of 46% of shareholding, edged out in controversial circumstances.
There are pending cases initiated by George at Federal High Court, including one in which Justice Oluremi Oguntoyinbo ruled for the commencement of contempt proceedings against Alta Semper in March 2021. This preceded another in which the same judge ordered all parties in the dispute to maintain status quo pending the determination of the motion before the court. At about the same time, Alta Semper also petitioned the London Court of International Arbitration (LCIA).
Almost 24 months later, LCIA is yet to give its final verdict, in addition, two the yet-to-be determined lawsuits in Nigeria. Thus, last week’s announcement that Alta Semper had sold shares to mPharma, with cases still in court, left many observers confused. The convention in corporate mergers and buyouts is that contact with internal and external stakeholders are prohibited until all legal, regulatory, finance and governance hurdles are overcome.
The situation raises a few questions. Can Alta Semper sell without a board resolution? Can Alta Semper sell without the consent of the founder, given that she has the right of first refusal? Where does this leave the founder? What is the position of the regulator, Pharmacists Council of Nigeria (PCN)? Is mPharma not taking a huge gamble with its money or was it involved in the underhanded takeover from the off? Is mPharma aware that Alta Semper is holding the founder’s personal assets and personal loan to the company they co-own? So many questions begging for answers.
The HealthPlus ownership crisis began with a breach, by Alta Semper, of the agreement to invest $18million in HealthPlus in two tranches. The private equity firm invested the first tranche of about $ 9.4million in March 2018 and was to complete the deal 12 months later. For reasons thought to include inability to raise funds, Alta Semper was unable to fulfil the other leg of the agreement.
A report published by thecable.ng quoted a private equity executive as saying: “The Alta Semper story is common knowledge in the PE (private equity) circles in the UK. They clearly have problems raising money. Their original fund raised through two family offices was very expensive. They are struggling to find new money at lower costs. Seemingly, HealthPlus is one of their prime assets, especially with the COVID situation. There is a lot of pressure for Alta Semper to increase their stake and look for an exit or IPO. So that’s probably why they are behaving like they are. There is a little bit of desperation and opportunism.”
Alta Semper obviously found the lax Nigerian business environment to its liking, as indifference to regulations is almost without repercussions. It is similar to the P&ID mess that has pitted the Federal Government in UK courts. There are many examples of private equity deals where the intent of the investor to seize the company via complicated legal agreements, which Nigerian lawyers struggle to understand, thereby leaving their local clients as easy prey.
Companies are being taken over for pittance or nothing. The lack of a national investment policy is a major problem. But there are strong whispers, following the highly publicized HealthPlus saga, that a national investment policy is in the works. Hopefully, this will offer a level playing field for all parties.
In the meantime, HealthPlus looks like a shell of the company it once was. Its policy of always having a pharmacist on duty and an extensive inventory is now a fading memory.
Time appears to be running out on HealthPlus to turn the tide and restore the pride of pharmacy in Nigeria.
Health
PPC Limited Calls for Greater Emphasis on Quality Medical Equipment
In response to the Federal Government’s renewed focus on eliminating substandard medical equipment from Nigerian hospitals, PPC Limited has reiterated the importance of strengthening quality assurance in the country’s healthcare sector
According to Dr. Emmanuel Iyere, Head of Diagnostics Services at PPC Limited, the widespread use of unreliable or poorly maintained medical devices undermines clinical outcomes and puts patients at risk. Addressing this challenge requires greater accountability in procurement, closer monitoring of equipment standards, and a stronger focus on sustainable investments in trusted technologies.
“Healthcare professionals can not deliver optimal care without dependable tools. When equipment fails, it places unnecessary strain on caregivers and can compromise patient safety. Nigeria’s hospitals must be supported with reliable systems that meet international standards,” Dr. Iyere stated.Stakeholders need to be at the forefront of strengthening Nigeria’s healthcare ecosystem through innovative Public-Private partnerships (PPPs). We have achieved notable collaborations, including the provision of diagnostic imaging solutions for tertiary hospitals and the supply and maintenance of laboratory equipment in partnership with state governments. These PPPs demonstrate how combining government support with private-sector expertise can deliver sustainable, high-quality healthcare services.”He further emphasized that by aligning procurement with global best practices and prioritizing quality over short-term cost savings, the healthcare system can better protect patients, reduce waste, and strengthen trust in medical services.
Health
Why Nigeria Needs AEDs in Every Public Space and Trained Personnel to Use Them
In Nigeria today, sudden cardiac emergencies, including heart attacks and cardiac arrest, are no longer rare occurrences. According to SOS Emergency Response Technologies, hypertension affects over 40% of the adult population, and with cardiovascular diseases becoming increasingly prevalent, the need for immediate lifesaving interventions is higher than ever.Heart-Related Illness: A Growing National ConcernHeart-related illnesses have become a major national concern in Nigeria. According to the Nigerian Hypertension Society and Nigerian Heart Foundation, approximately 76 million Nigerians live with high blood pressure, and only a small fraction have their condition under control. Sudden cardiac events, often tied to unmanaged hypertension, are striking people in their prime, sometimes within minutes.Hypertension affects approximately 38–42% of adult Nigerians, with only about 7% achieving effective blood pressure control, according to reports by The Guardian.The Nigerian Cardiac Society also notes that heart disease claims over 20 million lives globally each year, most of them in low- and middle-income countries like Nigeria. These realities are compounded by reports of individuals collapsing from unexpected heart attacks, often attributed to undiagnosed hypertension or heart disease.These figures highlight a major public health challenge: sudden cardiac arrest and heart disease are claiming thousands of lives, many of which could be prevented with timely detection and early intervention.The PPC Healthcare Solution: AEDsAutomated External Defibrillators (AEDs) play a critical role in saving lives during sudden cardiac events. When used in combination with basic CPR, AEDs can triple the chances of survival. Time is critical: survival declines by 10% with every minute without defibrillation. When CPR is used together with an AED, survival chances can triple—even if medical services are still en route (CESAHA.org). Unfortunately, in Nigeria, AEDs are rarely found in public settings.According to guidelines from the Nigerian Cardiac Society, AEDs should be made available in high-traffic, high-risk locations such as airports, shopping malls, markets, schools, universities, event centres, hospitals, clinics, security posts, banks, workplaces, and high-rise buildings.However, simply having AEDs is not enough. Trained staff, such as security officers, receptionists, and event personnel, must be certified in Basic Life Support (BLS) and AED use. According to national standards, each facility installing an AED should train at least 10 personnel to ensure the device is used effectively in emergencies.Every minute without defibrillation reduces a cardiac arrest victim’s survival odds by 7–10%. Keeping AEDs accessible and training people to use them can make the difference between life and death (SOS Emergency Response Technologies).At PPC Limited, we advocate for legislation and policies mandating AED presence in vulnerable public spaces. Businesses, event locations, schools, and transit hubs are encouraged to install AEDs. We also provide not only the deployment of AEDs but also CPR and AED training programs for frontline staff and security personnel.At PPC Healthcare, we believe saving lives is everyone’s responsibility. The integration of AEDs and training programs into Nigeria’s public infrastructure is not just smart, it’s urgent. For more information, visit www.ppcng.com
Health
Inside Afrihealth Expo 2025: Key Highlights and Why You Shouldn’t Miss It
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Africa’s largest convergence of healthcare professionals, innovators, and solution providers has landed in Lagos, and it’s already shaping up to be a game-changer. From the 18 to 20 June, all roads will lead to the Welcome Centre Hotel, Airport Road, Lagos as Afrihealth Expo 2025 brings together stakeholders from across the continent to discuss, showcase, and collaborate on sustainable healthcare innovations that will drive the future of medical care in Africa.
From high-level panel discussions to product unveilings and strategic partnerships, here are some of the key highlights of this year’s event and why it matters more than ever to be part of the conversation.
A Hub of Innovation and Technology
One of the biggest draws of Afrihealth Expo 2025 is its display of cutting-edge health technologies. From AI-powered diagnostics to portable imaging devices and smart hospital infrastructure, the exhibition halls are packed with next-generation solutions that are redefining access, quality, and efficiency in healthcare delivery.
PPC Healthcare Division, in collaboration with its global OEM partners including Vinno, Comen, Neusoft, and Cardioline, are among the standout exhibitors. With live demonstrations of advanced ultrasound systems and discussions around the integration of technology in maternal and neonatal care, PPC Healthcare is making a strong case for diagnostics as a critical driver of healthcare equity.
Conversations that Drive Policy and Practice
The event also plays host to keynotes and roundtable sessions led by policymakers, medical experts, and industry leaders. Topics such as universal health coverage, local manufacturing, health financing, and workforce development are being explored with urgency and depth, reflecting the need for holistic approaches to Africa’s healthcare challenges.
According to Dr. Chukwunonso Izechukwu, Assistant General Manager of PPC Healthcare, “Events like Afrihealth are vital, not just for showcasing technology, but for shaping the policy and collaboration frameworks that ensure innovation reaches the last mile. The conversations we’re having here are laying the foundation for a more resilient and inclusive healthcare system.”
Networking that Translates to Impact
Beyond the sessions and booths, Afrihealth Expo is a space for meaningful connection. From cross-border partnerships to public-private collaborations, the event is a fertile ground for building relationships that turn ideas into impact.
Healthcare providers, investors, engineers, and government bodies are coming together in real time to exchange insights, forge alliances, and design solutions with the power to transform communities.
Why You Should Be at Afrihealth Expo
Whether you’re a healthcare practitioner, a policymaker, a tech innovator, or a student with a passion for public health, Afrihealth Expo 2025 is the place to be. It’s not just about seeing what’s new, it’s about being part of what’s next.
By attending, you gain access to first-hand exposure to breakthrough technologies, expert knowledge from across the continent, new opportunities for partnership and growth and a deeper understanding of the issues shaping Africa’s health future
PPC Limited, through its healthcare division, is proud to be part of this transformative event, contributing solutions, facilitating dialogue, and advocating for healthcare systems that leave no one behind
Visit the PPC Healthcare booth at Afrihealth Expo 2025 from 9.00am to 4.00pm on 18 to 20 June and be part of the movement to reimagine Africa’s healthcare story.
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