CribMD Acquires Charisland Pharmaceuticals Ltd.

CribMD Acquires Charisland Pharmaceuticals Ltd.-Brand Spur Nigeria
CribMD Acquires Charisland Pharmaceuticals Ltd.-Brand Spur Nigeria

CribMD has acquired a retail pharmaceutical giant – Charisland Pharmaceuticals Ltd (C.P.), to expand its pharmaceuticals market share and ensure drug delivery straight to patients’ homes across Nigeria. 

Roughly one year after we launched operations in Nigeria, we have gone on to do great things. From building the MVP to morphing into a version 2.0 and closing seed rounds of over $2.85milion – led by The Guardian, Norrsken and Sputnik ATX. Also, our active subscriber base is more than 3,000. Worthy of note was our nomination for the Nigerian Healthcare Awards 2021.

The traction and recognition we are constantly receiving make us do better and drive for excellence – all in a bid to make our subscribers happy.

In the spirit of excellence and continuous growth, we have acquired C.P. as fast expansion and acquisitions is part of what we’re using our funding to do to drive actual value for subscribers.

Incorporated in 2009, C.P. has constantly offered value within the Nigerian Health space. The private company led by the Adedoyins (Adedoyin Oluranti Mrs, Adedoyin Babatunde Michael and Adedoyin Adebayo Henry) has since inception maintained a high level of service delivery in all their stores in the major cities of Nigeria.

“The acquisition could not have come at a better time as C.P. seeks to exit the Nigerian market – moving to Canada,” says Ifeanyi Ossai – CEO and Co-Founder, CribMD. “Our values overlap, and our overall vision for the healthcare space is similar,” Ossai adds.

Going Forward….

Ifeanyi shares more insight – “Many acquisitions come with varying terms and conditions, ours with C.P. is 100%. The unemployment rate in Nigeria is steadily climbing, and CribMD isn’t about to contribute to that.

“Therefore, we will be retaining the current staff of C.P. and hiring more as we grow. We have received high commendations about the current staff, so we are absolving all and will hire more in the coming weeks.”

CribMD’s product offerings are shaping out well. We already have Telemedicine, and Doctor House Visits running smoothly. Our recent acquisition will further solidify the Online Pharmacy offering. We hope to add more in the coming months.

“At CribMD, we are steadily growing our subscriber base. The customer-centric nature with which we run and operate makes us build and implement features that would bring value to our users,” Ossai says. “Little wonder we are recording a high percentage of customer retention. Whatever will make the healthcare delivery process better for our users, we will implement.” He adds.