Imperial acquires 49% in Kiara Health
Effective August, Imperial acquired a 49 percent shareholding in Pharmafrique (trading as Kiara Health).
September 01, 2020: Effective August, Imperial acquired a 49 percent shareholding in Pharmafrique (trading as Kiara Health). Kiara Health is an African pharmaceutical manufacturing and healthcare services company based in Johannesburg.
The investment is in line with Imperial’s strategy to backward integrate into contract manufacturing as part of our market access service to multinationals on the continent.
“Kiara’s aspiration to deliver world class medical solutions to all patients on the African continent resonates strongly with Imperial’s purpose to connect Africa and the world and to improve people’s lives with access to quality products and services. Imperial is proud to be a shareholder in this remarkable business we look forward to the increased value this acquisition will bring to our strategic partnerships with multinational clients wanting to enter and grow in African markets,” said Mohammed Akoojee, Imperial Group CEO.
The company’s portfolio and pipeline of innovative pharmaceutical products and next generation medical devices - including robotics, devices and point-of-care diagnostics - also present opportunities that will be leveraged to benefit all the people of Africa.
“The Covid-19 pandemic has been a stark reminder of the critical importance of local healthcare product manufacturing capability,” stated Skhumbuzo Ngozwana, CEO and president at Kiara Health.