Tuesday
November 28
2017

A startup disrupting the prescription drug business in Africa is getting major Silicon Valley support

Greg Rockson, founder of mPharma, sometimes struggles to sum up the myriad services his three-year old startup provides. But it’s safe to say the Accra, Ghana-based company is starting to disrupt Africa’s pharmacy retail supply chain and is setting its sights on bigger targets beyond the continent.

MPharma manages prescription drug inventory for pharmacies and their suppliers in four African countries. It provides inventory financing to clients and is using its growing purchasing power to help lower the cost of prescription drugs for patients.

The scale of its ambition to disrupt such a significant sector has attracted a bevy of major international investors for its recent Series A funding round, amounting to $6.6 million announced today.

Photo courtesy of CommScope.

Source: Quartz Africa (link opens in a new window)

Categories
Health Care
Tags
Africa, drugs, eHealth, Ghana, global health, mobile health, pharmaceutical industry, Silicon Valley, startups