Nigerian E-health Startup, CridMD Acquires Pharmaceutical Company To Ease Scaling

July 16, 2021
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Nigerian e-health startup CridMD has acquired retail pharmaceutical company Charisland Pharmaceuticals (CP) to expand its market share in the space and ensure drug delivery straight to patients’ homes across Nigeria. 

Launched in June 2020, CribMD connects users with doctors for house calls and telemedicine services via its on-demand platform, allowing them to schedule appointments from the comfort and safety of their home, on their own schedule.

The startup has built an active subscriber base of more than 3,000, and to spur quicker expansion has now used some of the US$2.6 million in seed funding it raised earlier this year to acquire CP. Incorporated in 2009, CP is exiting the Nigerian market and relocating to Canada, so the deal was mutually beneficial.

“Our values overlap, and our overall vision for the healthcare space is similar,” said Ifeanyi Ossai, chief executive officer (CEO) and co-founder of CribMD.

“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.”

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