50 0 %
- Industry: Medical Products
- Region: Africa
- Date invested: September, 2018
- Website: pyramidpharma.com
As a leading African distributor of specialist medical equipment and health products, Pyramid Group is combating a lack of access to medical resources and overburdened healthcare systems in Africa, as well as an increasing prevalence of diseases such as cancer and diabetes.
With distribution in Tanzania, Kenya, Uganda, Rwanda, Mozambique, Ethiopia and Burundi, Pyramid Group is the largest supplier of specialty cardiac and orthopaedic equipment in East Africa. As a result of its growing distribution networks for these products, Africans who previously had to travel overseas for treatments, such as hip replacements and having pacemakers fitted, can now have these procedures closer to home.
Africa currently has the highest age-standardised mortality rate of non-communicable diseases (779 per 100K people, versus US and EUR at 450-550 per 100K people). Poor access to medical resources and over-burdened healthcare systems, as well as an increasing prevalence of noncommunicable diseases such as cancer and diabetes are driving a need for access to affordable new medicines and more advanced diagnostic equipment.
According to recent research, the African pharmaceutical market is set to reach $62 billion by 2024, while the African medical devices market is set to reach $7bn by 2023, meaning that Pyramid is well positioned to deliver strong commercial and impact returns.
“The Pyramid team have built a remarkable pan-African business, set for growth, which benefits Africans who have a growing need for quality health products and diagnostics. We see immense potential to optimise the company’s operations and increase its customer reach in underserved areas, introducing new product lines like renal and oncology and continuing to deepen its distribution across Africa.”
– Felix Olale, LeapFrog Partner and Global Health Co-Lead
Pyramid Group is a leading distributor of specialist medical equipment and products that deliver the latest standard of care, access and affordability to Africans.
Founded in 2001, the company has grown to be the largest specialty distributor for cardiac and orthopaedic equipment in East Africa, offering a comprehensive range of quality medical products from top-tier brands including Medtronic Plc and Johnson & Johnson, opening-up access to specialised products like pacemakers and hip replacements for consumers in Africa who historically have had to travel abroad to access specialist products and treatments. This has contributed to the c.$1bn a year lost by Africa on medical tourism abroad.
Pyramid’s products are distributed in countries across sub-Saharan Africa, including Tanzania, Kenya, Uganda, Rwanda, Mozambique, Ethiopia, Nigeria and Ghana. The company currently provides healthcare products to four million consumers, of which over two million are emerging. Sales are projected to increase to approximately eight million total consumers over the next four years, of which over five million will be emerging.
In 2018, LeapFrog invested in Pyramid Group, complementing our portfolio of healthcare partner companies. We are supporting business and operational improvements within the company, such as the cultivation of new customers using our in-house consumer insights capabilities.
Leveraging our deep healthcare expertise and strong pan-African networks, Pyramid Group is also seeking to expand its product lines and distribution, in order to supply more healthcare providers and extend the reach of its services across Africa.
Pyramid Pharma is one of multiple LeapFrog investments in Africa, read more on our work in the region here.