Grinta, an e-commerce platform that caters to independent pharmacists across Africa and the Middle East, announced its acquisition of Auto-Cure. This is the third acquisition that the Egyptian company has made.
In addition to e-commerce, Grinta provides independent pharmacists throughout the continent with inventory financing and automation. This empowers them while also providing their customers with access to affordable medical products.
Auto-Cure is a B2B e-commerce platform founded in 2022 serving independent pharmacists in Alexandria, Egypt, and co-founded by Mohamed Rezk and Amr Kamel.
The acquisition deal was signed by Mohamed Azab, the Co-founder and CEO of Grinta, and Mohamed Rezk, the Co-founder of Auto-Cure. Rezk will join as a partner at Grinta and lead its Commercial Team.
“This transaction marks a significant step towards empowering pharmacists through the delivery of customer-centric, data-driven, and fintech-enabled solutions aimed at modernizing the pharmaceutical supply chain in Egypt and beyond,” Azab told WAYA.
“With Auto-Cure’s acquisition, we expand our reach to over 400 pharmacies in Alexandria, offering them the benefits of inventory financing and automation, streamlining their operations, and enhancing overall efficiency. Through this strategic move, we are committed to revolutionizing the healthcare industry, ensuring seamless access to vital and affordable medical products, and providing financial inclusivity for pharmacists across the region,” he explained.
“The acquisition of Auto-Cure is a testament to Grinta’s dedication to delivering value to their clients and growing its presence in the Egyptian market,” Azab added.
Since its inception in 2021, Grinta has raised $8M in seed funding and acquired two companies, PH Store, a similar digital platform in northern Egypt, and EME, a software development company. Grinta has also made significant progress by expanding to nine governorates across Egypt. The company has effectively catered to more than 7,000 pharmacies and successfully fulfilled over 200,000 orders.
Auto Cure has dispatched 5,000 orders over the past 18 months.
“Joining hands with Grinta is incredibly exciting for us. Our commitment to digitizing the market and delivering customer satisfaction has led us to join Grinta’s brilliant team. We have unlocked a world of possibilities, and together we will be extending our reach not only in Alexandria but throughout the Middle East and Africa” stated Rezk.
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