Medicamen Organics Limited has signed a definitive share purchase agreement to acquire a 51% stake in Rwanda-based Depot Pharmacy Yego Ltd. The agreement, signed on October 8, 2024, marks a strategic move by Medicamen to expand into the East African pharmaceutical market. The acquisition is expected to close by October 10, 2024, pending standard closing conditions.
The deal is valued at USD 1,899.75 and will be settled through an international bank transfer. This acquisition aligns with Medicamen’s goal of enhancing its pharmaceutical distribution channels across the region. The company plans to strengthen the operational capabilities of Depot Pharmacy Yego Ltd and introduce more products to the Rwandan market.
Medicamen’s Managing Director, Bal Kishan Gupta, emphasized that this acquisition is a key step in the company’s global expansion vision. The acquisition will provide Medicamen with a solid platform to bring its pharmaceutical products to Rwanda and further its presence in Africa.
With more than 30 years of experience in pharmaceutical manufacturing, Medicamen Organics has a strong track record, supplying both domestic and international markets, particularly in Africa, CIS, and SAARC countries.
