mPharma Reaffirms Commitment to Affordable Healthcare Service in Africa; Launches Impact Report
The company, since its inception, has deployed a lot of innovative strategies to improve access, not only to medications but to essential healthcare services such as molecular diagnostics testing
We needed a solution to remedy the challenge of availability, accessibility, and affordability of drugs to provide value to patients
mPharma (www.mPharma.com), a leading pan-African healthcare technology company, has reaffirmed its commitment to providing access to affordable healthcare solutions in Africa.
The CEO and Co-Founder of mPharma, Mr. Gregory Rockson, disclosed this during the virtual launch of its impact report held on Thursday, April 28, 2022. The launch was attended by the former Minister of Health, Ghana, Mr. Alex Segbefia, representing the former President of Ghana, H.E. John Dramani Mahama, and Head of Value Creation, Gabon Sovereign Wealth Fund, Serge Amissah.
Speaking at the occasion, Mr. Rockson noted that the contribution of mPharma to addressing the challenge of healthcare could not be over-emphasized, given its role during the peak of the COVID-19 pandemic. He stated that the company, since its inception, has deployed a lot of innovative strategies to improve access, not only to medications but to essential healthcare services such as molecular diagnostics testing.
He disclosed further that the company's intervention was geared towards addressing the issues of affordability and access to prescription drugs caused by excessive margins charged by the various stakeholders along the drug supply chain.
"We needed a solution to remedy the challenge of availability, accessibility, and affordability of drugs to provide value to patients. To address availability and accessibility, we began with a pilot in Ghana, our QualityRx program, which provides an innovative and affordable financing solution for struggling mom-and-pop pharmacies with a history of high performance. The program offers funding for refurbishment, inventory, customer management, and technology costs. By “reviving” these pharmacies, we did not only expand our pharmacy network but, most importantly, increased access to affordable drugs. Pharmacies under the QualityRx model operate under the brand “a mutti pharmacy.” With QualityRx, we came to a step closer to our goal of making medicines more affordable to patients as we directly control prices for all mutti pharmacies”, he said.
He noted further that the company remains committed to building an African in good health. He stated that it had recently secured $35 million in funding as the first tranche of a significant financing round for business operations.
According to him, the funding would drive the expansion of our network of facilities and further improve our tech infrastructure.
He explained further that the company had become an essential factor in providing solutions to the numerous problems caused by the pandemic. The company has leveraged its partnership with esteemed partners such as Breyer Capital in rolling our free COVID-19 test and millions of COVID-19 test kits across government institutions, private labs, and organizations in eight African countries.
"We recognized that the private health sector is a significant partner in healthcare delivery, and we anticipated African governments facing challenges in rolling out free COVID-19 tests. We proactively leveraged our relationship with mPharma investor Breyer Capital to establish a partnership with Sansure Biotech to secure one million COVID-19 test kits and 150 Polymerase".
In his remarks, former President of Ghana, H.E. John Dramani Mahama, congratulated mPharma on promoting good health for all Africans while declaring the launch of the impact report. He further urged the company to keep pushing for technology-based, patients-centered, community-focused approaches that can meet the needs of patients irrespective of their location or financial status.
Also speaking at the launch, Head of Value Creation, Gabon Sovereign Wealth Fund, Serge Amissah, expressed his delight in supporting the rebuilding of the health sector in Gabon. He noted that health is one essential resource for future generations, and that is why the Fund partnered with mPharma to work out models to rebuild the central medical store of Gabon.
Distributed by APO Group on behalf of mPharma.
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mPharma (www.mPharma.com) is a patient-centered technology-driven healthcare company. We provide innovative solutions through three main business units: Wholesale, Retail, and Diagnostics. Our portfolio of solutions includes vendor-managed inventory services, primary care solutions for community pharmacies, and data analytics. Our mission is to build an Africa in good health by increasing access to drugs for all patients at reduced costs while assuring and preserving quality. Founded in 2013 and headquartered in Ghana, we have expanded our operations to 8 other African countries, Nigeria, Zambia, Kenya, Malawi, Rwanda, Ethiopia, Gabon, and Uganda. We currently have a network of 500 pharmacies in our key markets, serving more than 100,000 patients each month. Our partner pharmacies across Africa have dispensed millions of life-saving drugs to patients.