Medtech Ethiopia pioneers domestic industry growth through EPHARM acquisition
Medtech Ethiopia has signaled its intentions in recent years through various acquisitions and diversifications, and is well on its way to benefiting from its most significant investment to date.
The Ethiopian pharmaceutical company’s recent acquisition of EPHARM (Ethiopian Pharmaceuticals Manufacturing Factory) signals a full circle in the business’s 16-year development, which initially saw it operate as a distributor for the latter to fill the demand gap in Ethiopia.
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Founder and Chief Executive Officer (CEO), Dr. Mohammed Nuri was the innovator who noticed the concerning trend and has not looked back since deciding to form the country’s first pharmaceutical supplier.
“I am a doctor by background, and was really frustrated by the shortage of availability of pharmaceutical products in the country,” he said. “This is what pushed me to go into this field and with the Ethiopian market untested at the time, we grew exponentially.
“From five staff members in a three room office, with capital of $50,000, we have now registered more than 300 pharmaceutical products from more than 20 global suppliers, and we are ISO certified and one of the top pharmaceutical companies in Ethiopia.”
EPHARM has been a government-owned organisation for the past 50 years, establishing an unrivalled reputation in the country and industry, making the acquisition a vital feather in the cap of Medtech Ethiopia.
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With a total of 63,000 square meters of land to expand the EPHARM facilities, Dr. Nuri has taken the opportunity to ... Click here to read the rest of the article on Healthcare Global!