HealthPlus: Fresh crisis as ownership tussle escalates

The protracted ownership tussle over HealthPlus, a leading pharmaceutical chain, and private equity firm, Alta Semper UK, has taken a fresh twist.

The twist was introduced by the statement issued last week by mPharma, Africa’s leading health technology firm, that it has acquired a majority stake in HealthPlus from Alta Semper UK, which attempted a forcible takeover of HealthPlus last year.

The statement was followed by a video shared on the Twitter page of Gregory Rockson, mPharma’s Chief Executive Officer, telling HealthPlus staff why it acquired the company and its commitment to keep the company afloat.

Private equity experts are, however, of the opinion that the acquisition lacks fidelity, given that contacts with internal and external stakeholders in corporate mergers or buyouts are forbidden until every legal, regulatory, financial and governance issues are resolved.

This latest development is a continuation of the almost two-year battle between HealthPlus founder/Chief Executive Officer, Mrs. Bukky George and Alta Semper, led by Afsane Jetha, and equity firm’s Nigerian partners under the leadership of Pharmacist Chidi Okoro, who executed a hostile takeover of the company without a board resolution. Vanguard