According to the World Health Organisation, Africa currently has the highest age-standardised mortality rate of non-communicable diseases (779 per 100K people, versus US and EUR at 400-600 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.
Pyramid Group is a leading distributor of specialist medical equipment and products delivering the latest standard of care, access and affordability to Africans to address this need.
Founded in 2001, the company has grown to be the largest specialty distributor for cardiac and orthopaedic equipment in East and West 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 customers in Africa. Previously customers would need to travel abroad for these specialist treatments, contributing to c.$1bn a year to medical tourism abroad.
Pyramid’s products are distributed across eight countries in East and West Africa. The company currently provides healthcare products to four million consumers, of which over two million are emerging, through a vast number of healthcare providers, including over 700 in Tanzania alone. This is projected to increase to eight million total consumers over the next four years of which over five million are emerging.
LeapFrog’s investment in Pyramid will support business and operational improvements, enabling the company to reach more healthcare providers and expand its product lines and services across Africa.
According to recent research, the pharma and devices market is expected to reach $60 billion by 2022; meaning that Pyramid is well positioned to deliver strong commercial and impact returns.
(Goldstein Research referencing the IFC and the World Bank; September 2017)
“LeapFrog emerged as the strongest, and most logical investment partner for Pyramid, given their deep healthcare expertise and strong pan-African network will help us meet our ambitious growth plans in the pharma and devices market, which is experiencing unprecedented growth.”
Abraham Okore, CEO and Founder, Pyramid Group