Despite accounting for 85 per cent of retail medicines sold in Africa’s pharmaceutical industry (projected to reach $70 billion market size by 2030), the absence of bespoke digital tools to manage their unique sales and inventory management needs means neighbourhood pharmacies and Proprietary patent Medicine Vendors (PPMVs) are unable to run their operations as effectively and profitably as possible.
At the same time, the reliance on paper-based inventory and sales management processes means manufacturers have limited empirical insights into customer behaviour to inform their decisions on production and distribution.
Remedial Health, a health tech startup in Africa’s pharmaceutical value chain has unveiled an updated version of its app, designed to function as an operating system for neighbourhood pharmacies and medicine vendors across Africa. The new Remedial Health app has been designed to support effective decision making to drive business growth and profitability.
Starting in Nigeria, healthcare businesses can access vetted medicines, and manage their sales and inventory on one easy-to-use platform, freeing up time and capacity to effectively serve their customers and communities. The app also enables Remedial Health to provide consolidated, real-time data on market behaviour to manufacturers for increased profitability and better decision-making across the value chain.
The digital POS terminal supports payment collection, virtual business accounts to receive payments, an in-built barcode scanner feature for recording product sales and store-switch functionality to enable the seamless management of multiple stores, as well as inventory management solutions.
The app also offers comprehensive financial reporting to manage profit and loss, and data analytics to inform decision making.
According to Samuel Okwuada, CEO, and co-founder of Remedial Health, “Neighbourhood pharmacies and PPMVs represent the frontline of healthcare delivery in Africa but they have historically been left to their own devices to figure out how to be efficient and profitable. Our mission is to empower these essential service providers with the tools they need to manage day-to-day operations and seamlessly run their practices effectively. We spent a lot of time interacting with our customers in the process of delivering this product and the feedback has been great. We are excited by the opportunity to get the app into the hands of pharmacies and PPMVs across the country to support their ongoing success, as well as the health and wellbeing of the nation”.
In 2023, Remedial Health sold more than 300 million individual packs of medicines to 7,500 hospitals, neighbourhood pharmacies and PPMVs across all 36 states of Nigeria. Its customers also improved their profits by 30 per cent on average, with access to more than 8,000 vetted products at the same, or better than, open-air medicine market prices. They can also access same-day delivery and leverage inventory financing to minimise cash-flow friction for routine orders and maximise sales opportunities.