XRP Healthcare has announced the acquisition of Uganda’s leading retail and wholesale pharmacy chain Pharma Ville for undisclosed amount.
XRP Healthcare says the acquisition is strategic in its expansion drive as it seeks to capitalize on Africa’s healthcare market which projected to reach $259 billion by 2030.
The firm is also seeking to leverage Africa’s digital health segment encompassing AI-driven solutions which is expected to grow to $16.6 billion.
“This acquisition strengthens Uganda’s healthcare sector, fosters economic growth, and introduces essential technologies to the industry. It’s a major step forward for healthcare accessibility in Uganda,” saide Peter Waswa, a strategic advisor to XRP Healthcare.
XRP Healthcare says through the acquisition, it is targeting to integrate digital innovation with traditional pharmaceutical distribution as its bargain at revolutionizing healthcare delivery in emerging markets.
The acquisition marks a stride forward as XRP Healthcare takes on the African market with its entry in Uganda expanding its reach from the United Kingdom and the United Arab Emirates.
According to XRP Healthcare Chief Executive Officer Kain Roomes, Uganda’s fragmented pharmaceutical landscape presents immense potential that by integrating Pharma Ville, delivery of impact can be immediate improving access to essential medicines and optimizing healthcare delivery.
Pharma Ville plays a pivotal role in Uganda’s healthcare sector, working closely with the National Medical Stores (NMS) and Joint Medical Stores (JMS) to ensure a steady and reliable supply of essential medicines.
“Joining XRP Healthcare is transformative. We can now rapidly scale our operations, introduce innovative technologies, and better serve Uganda’s healthcare needs,” said Richard Kitonsa, CEO and Founder, Pharma Ville.
The retailers owns two retail pharmacies and five wholesale distribution centers strategically positioned across Uganda.
Pharma Ville’s established infrastructure is further backed to enhance medicine accessibility nationwide.
Through XRP Healthcare, there is a streamlined pharmaceutical supply chains and a trajectory set to expand its footprint in Africa’s healthcare market.
The acquisition includes 60 registered pharmaceutical products, 18 products ready for immediate commercialization, and 70 additional products in the pipeline awaiting regulatory approval.
Pharma Ville will is expected to rebrand as XRP Healthcare before the end of the year.
