mPharma, a Ghanaian health startup, has taken a controlling stake in Uganda’s Vine Pharmacy for an undisclosed amount, marking the firm’s entry into its latest market in Africa.
mPharma disclosed to TechCrunch that it has acquired a 55% stake previously held by the Abraaj Group, a private equity firm that collapsed after investors, including the Bill and Melinda Gates Foundation, sounded an alarm over the administration of its $1 billion healthcare fund. Abraaj bought Vine Pharmacy in 2013 when it was the largest pharmacy chain in Uganda.
