Ibnsina Pharma has signed an agreement to acquire a 75% stake in 3elagi healthcare aggregator platform, which owns one of the fastest growing applications linking pharmacies with patients looking to order medicines and cosmetics online.
The remaining 25 percent of the business continues to be held by the founders, who will remain onboard.
The company has been working since the outbreak of the pandemic to “give patients access to their medications without having to leave their homes,” said Ibnsina Chairman Mohsen Mahgoub.
3elagi currently has 600k users, and plans to use the capital increase to expand its user base, as well as the number of registered pharmacies in its network hich will have the luxury of benefiting from online orders without having to bear the cost of building their own application.
Ibnsina invested 22 million pounds in 2020 in internal digital projects, including launching its own app last July. The app serves 4k pharmacies monthly, allowing them to digitally replenish their stock. The company announced last July it had set up an SPV to invest in pharma companies, and said it plans to invest 16 mn pounds 2021.
