Cipla Limited acquires healthcare company Brandmed
The transaction is set to increase Cipla's exposure to the connected healthcare segment.
Cipla Limited, South Africa’s third largest pharmaceutical company in the private sector, said it will acquire a 30 percent in healthcare company, Brandmed, for an undisclosed amount.
The transaction is set to increase Cipla’s exposure to the connected healthcare segment as Brandmed offers solution for patients with chronic lifestyle and non-communicable diseases (NCDs) such as hypertension, diabetes, high cholesterol, asthma and chronic obstructive pulmonary disease.
Brandmed, which is based in South Africa, was founded in 2014 by cardiologist Dr Riaz Motara (pictured left). The transaction will be executed by Cipla's South African arm Cipla Medpro.
In February, Cipla had announced a similar partnership in India with Wellthy Therapeutics to offer a clinically-validated digital disease management platform to patients in cardio-metabolic health.
Cipla said in a statement that it expects to complete the transaction with Brandmed by May 31.
Paul Miller (pictured right), CEO of Cipla Medpro, said: "This transaction will help to transition healthcare from being reactive to a proactive and real-time monitoring model that focuses on promoting wellness instead of managing illness. This aligns with Cipla's vision and focus on 'human care' and a future where good health is expected, not for the few, but for the many."
“By pairing our strengths with Brandmed' s innovative, patient centric approach to healthcare, Cipla Medpro will enhance its diverse portfolio in the NCD area to provide holistic care to patients from awareness through to disease management, thereby enabling patient adherence and compliance,” Paul added.
Said Riaz: "Drugs alone are not enough to manage a disease and the disease burden will become unmanageable unless innovative solutions are implemented."
"We're integrating medical expertise with ground-breaking technology to deliver better patient care and offer an integrated disease management solution. We're also shifting the focus from managing diseases in separate silos to a comprehensive risk reduction and treatment approach. Greater success in patient health outcomes, value-based care and efficiencies could be achieved in South Africa if more healthcare stakeholders are willing to work together,” said Motara.
According to the World Health Organisation, NCDs - mainly cardiovascular diseases, cancers, chronic respiratory diseases, and diabetes - are the leading cause of death worldwide. More than 38 million people die annually from NCDs (63 percent of global deaths), including 16 million people who die before the age of 70.
Nearly 50 percent of global disability is attributed to NCDs. Reducing the avoidable burden caused by NCDs and their risk factors means taking actions now to change the narrative around NCDs.