Lifestores Healthcare is a pharmacy tech startup whose primary focus is to disrupt primary health care in Nigeria by improving inventory management and purchasing for pharmacies, chemists, etc.
It is a thing of joy to find out that Nigerian entrepreneurs are now focusing their searchlights towards the use of cutting edge technology to address the inefficiencies in primary health care in Nigeria in particular and Africa in general.
Nigeria, just like most African countries suffer from the issue of inadequate hospitals, doctors and nurses, pharmacies and chemists play an indispensable role in ensuring that Nigerians even in the remotest areas can receive medical attention. But the issue is that these pharmacies and chemists can’t carry out this role effectively as they are bedeviled by inefficiencies like challenges of inefficient supply chains restricting them to sourcing for medicines from middlemen instead of manufacturers and also the risks of buying fake products.
The good news is that Lifestores Healthcare is here for the rescue. The startup was launched there years ago with the core founders as Andrew Garza (CEO), Ken Ahaotu (Cofounder).
Lifestores offers pharmacies and chemists the opportunity to purchase drugs at cheaper prices by directing them to pool their money together. This business decision has become a win-win for everyone as middlemen are no eliminated.” We want to make sure people are buying from the best source which translates into better costs and better quality,” says Andrew Garza, the chief operating officer.
The startup is currently working hard to set up sustainable partnerships with thousands of pharmacies and chemists starting from Lagos, hoping to extend to other parts of Nigeria soonest using its software offerings.
Lifestore is funding this partnership deal with a US$1 million seed round led by Lagos-based Consonance Kuramo with massive support from Flying Doctors Nigeria Group, Altadore Lionbear Capital, Unseen Ventures, Greentree Syndicate, K50 Ventures, Chinook Capital, StartUp Health Transformer Fund, Kepple Africa Ventures, etc.
Lifestores Healthcare is hoping to use business acquisitions model to develop a chain of pharmacies for the greater tomorrow. “Our thesis is that the massive opportunity for transformation in healthcare delivery in Nigeria is finding a way to support these pharmacies to professionalize the whole industry” says Bryan Mezue, Lifescores’ chief executive.