Imperial has acquired a 49% stake in Pharmafrique, trading as Kiara Health.
Kiara Health is an African pharmaceutical manufacturing and healthcare services company based in Johannesburg.
It serves as the local, non-exclusive manufacturing partner for a global leader in generic and biosimilar medicines and as a commercial partner for several global pharmaceutical and medical technology companies.
Imperial says the investment is in line with the group’s strategy to backward integrate into contract manufacturing as part of its 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,” says Imperial Group CEO Mohammed Akoojee.
“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,” notes Kiara Health CEO and president Dr Skhumbuzo Ngozwana.
“Kiara’s world class manufacturing capabilities, and our exceptional governance and regulatory expertise, see us justifiably placed at the forefront of the South African healthcare manufacturing industry.”
“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,” adds Akoojee.
The value of the acquisition was not disclosed.