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HealthPlus is experiencing a power struggle 2 years after obtaining $18 m from Alta Semper Capital

Izunna Okpala

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A press release apparently released on September 25 by the Board of HealthPlus, one of the largest integrated pharmacy chains in West Africa, confirmed that the company no longer needed the services of its founder, Bukky George, as CEO.

The decision to terminate the appointment of George came with the announcement of Chidi Okoro, the interim leader.

Okoro, a renowned pharmacist and management executive, is to take on the position of Chief Officer of Transformation. Okoro, akin to the position of a CEO, can simplify day-to-day management, help the company scale, and achieve profitability.

And a letter that appears to be from the board of HealthPlus to the Pharmacists Council of Nigeria (PCN) states that George “remains a shareholder of the company, a member of the board of the company, and may engage at board level in the company’s decision-making process.”

Afsane Jetha and Zachary Fond, Managing Partner & CEO, and Director of Alta Semper Capital, respectively, have signed it off.

From investment and partnership to a fight for power

Alta Semper Capital LLP is a private equity (PE) company that invests in Africa-wide healthcare and consumer businesses. In 2017, the PE company invested in Macro Pharma, a medicated cosmetics company in Egypt.

It made deals with HealthPlus and the Moroccan oncology and radiology clinic, Oncologie et Radiologie du Maroc (ODM), the following year.

The letter from Alta Semper Capital to the PCN

Source Techpoint

The HealthPlus investment was $18 million.

HealthPlus, founded by George in 1999, has expanded to more than 90 retail outlets, employing over 850 employees, including more than 150 pharmacists. In Nigeria, the company claims to be present in 11 of the 36 states in the world.

Operating branches in strategically placed suburban areas, airports, and shopping malls are also recognized.

Alta Semper Capital ‘s investment was to help HealthPlus grow its store footprint. In addition, to attract more talent, grow fulfillment centers and pursue initiatives in eCommerce.

The cash inflow, however, is said to have given the PE firm a majority stake in the company, which is one of the reasons why the company is facing problems at the moment.

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These telemedicine companies are transforming the way doctors will treat patients in the future.

Izunna Okpala

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Telemedicine exploded during the pandemic, after years of steadily gaining popularity. Companies are now capitalizing on this momentum to bring in the next wave of remote health, expanding beyond simple doctor consultations to a high-tech world of healthcare access without ever leaving the house.

Dr. John Batsis, an associate professor at the University of North Carolina School of Medicine, remarked that the pandemic “actually promoted new techniques for remote monitoring, production, and development of devices.” “Wherever there is a customer need, there will be startups, equity, and businesses attempting to meet those requirements.”

Tyto Care, an on-demand medical exam company that aspires to duplicate in-person visits with home medical kits, is one company reconsidering televisits. Dedi Gilad, the company’s CEO and co-founder, came up with the idea eight years ago while his daughter was suffering from recurrent ear and throat infections.

Meanwhile, Sanford Health in the Midwest, the country’s largest rural health care organization, has adopted a similar strategy. Rather of adapting devices for remote usage, doctors taught patients how to record their results at home using the same tools they used during in-person appointments.

According to Sanford Health, “home monitoring kits” containing a fetal ultrasound monitor and a blood pressure cuff were distributed to patients with low-risk pregnancies, allowing women to use virtual care for nearly a third of their prenatal care appointments during the pandemic.

Other telemedicine startups, such as Kiira in Los Angeles, are focusing on increasing access to underprivileged areas. The company’s virtual care app, which links women to primary care providers, OB-GYNs, mental health experts, and more through phone, video, and chat 24 hours a day, seven days a week, aims to bridge the healthcare gap for women in college, particularly women of color.

Historically, black and brown people have faced numerous impediments to healthcare, including fees, access to care, and even access to clinicians of color. Students are frequently hesitant to enter because they do not see a provider who looks like them…. One of the things that has been absent for a long time is the ability to see someone who you can relate to and speak with a provider from the comfort of your own home.

Virtual visits can be conducted, prescriptions can be written, and lab tests can be ordered using the app. Kiira’s monthly fee is covered by colleges, so students don’t have to pay for it. It presently serves four universities and approximately 3,000 students, with ambitions to grow to 22,000 students later this year.

Spora Heath, another affordable telemedicine startup, focuses on offering a primary care network for African-Americans. The $10-per-month service compels its physicians, 90 percent of whom are persons of color, to complete “culture-competence training” and workshops in order to better understand and support the communities they serve.

These technologies are going to be integrally important in managing patient’s health now and in the future.

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Health

Weight loss-related adverts are no longer allowed on Pinterest – Pinterest CEO

Izunna Okpala

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Pinterest stated on Thursday that all weight-loss adverts will be removed from its site, in an effort to prohibit content that promotes unhealthy or disordered eating patterns.

Ads containing language or visuals that promote or degrade particular body types will also be prohibited, according to the bookmarking site.
“Since the Covid-19 pandemic began last year, there has been a dramatic spike in harmful eating patterns and eating disorders in young people,” Pinterest (PINS) stated in a statement, citing data from the National Eating Disorders Association.

The new policy will take effect on Thursday. The issue for platforms, as with any online content moderation policies, is usually not so much in establishing the rule as it is in enforcing it and ensuring that no one breaks it.

While Pinterest is now widely regarded as a happy place on the internet, it used to be plagued by content that encouraged potentially hazardous diet and lifestyle practices, also described as “thinspiration,” “thinspo,” or “pro-anorexia.” Pinterest prohibited similar content in 2012, but in the years afterwards, pro-eating disorder content has been discovered on the platform.

The company announced on Thursday that it had already banned some weight-loss-related ads, including those with before-and-after photographs, weight-loss medications or procedures, and “body shaming.”

However, its new policy aims to go even further by prohibiting all weight-loss-related language and images, including testimonials about weight reduction or weight-loss products, as well as allusions to BMI or equivalent indices. Pinterest claims to be the “only big platform” that does not allow such adverts.

“We encourage others in the industry to follow suit and admit, once and for all, that one-size-fits-all doesn’t exist,” the company added.
Pinterest will continue to allow ads promoting “healthy lifestyles” or fitness products and services as long as they do not promote weight loss, according to the business. The policy was created with the help of the National Eating Disorders Association.

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A conference on blockchain and health is scheduled to be held at the Africa Blockchain Developers Call.

Izunna Okpala

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The Africa Blockchain Developers Call (ABDC) Pan-African Bootcamp on blockchain technology has declared its intention to hold a weekend conference on incorporating blockchain technology into Africa’s health sector.

In an attempt to execute comprehensive blockchain training sessions and promote the implementation of specially designed applications for different sectors in Africa, the Bootcamp, officially launched on 5 September, has taken on a host of African developers.

The Bootcamp also features virtual weekend conferences on many use-cases for blockchain. These conferences are aimed at encouraging creative and comprehensive discussions on the implementation of blockchain technology in Africa, including platform presentations by businesses and panel sessions on many Blockchain issues. The first meeting, focusing on Blockchain in Finance, took place on September 5. It featured a keynote speech given by Professor Anicia Peters, University of Namibia Pro-Vice Chancellor for Science, Innovation and Development.

The next conference, scheduled to take place on October 3rd, will focus on the theme: Blockchain in Health. The keynote speech will be given by Arnab Paul, President of the Kolkata Chapter in India. Several organizations and startups will also give platform presentations via their representatives based on medical use cases for blockchain technology.

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