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US-based and MENA-servicing B2B healthcare marketplace Aumet has announced its acquisition of Egypt-based Healthcare supply chain solutions startup Platform One to become fully active across Saudi Arabia, United Arab Emirates, Egypt and Jordan with more than 5,000 active pharmacies on its platform.
Founded in 201t, Aumet connects Pharmacies with Pharmaceuticals Suppliers across MENA through its seamless B2B platform. In doing so, Aumet is also empowering manufacturers, distributors, and healthcare providers to exchange data that drives efficiency and optimized decision-making. With its acquisition of Platform one, Aumet now has access to Platform One’s network of users where the Cairo-based team will lead Aumet’s operations in Egypt.
Egypt has been the top geography for the healthcare industry in MENA this year, raising the highest amount of capital and closing the most number of transactions across MENA by Q3 2021. As most recently recorded in our Q3 2021 Healthcare EVM Venture Investment Report, Egypt’s pandemic peak has seemed to simmer down, where Healthcare startups observed an 80% YoY dip in capital deployed despite a 17% YoY increase in total transactions by the third quarter o the year. Some of the top funding rounds of this year show Egypt’s diversity in the Healthcare venture space where startups like online pharmaceutical marketplace Yodawy, Telehealth and online consultancy platforms Cura and Valeo, and even IoT and CRM solutions provider SoTech raised major rounds in 2021.
Platform One is Egypt’s leading provider of digital business pharmaceutical solutions, with over 150 pharmaceutical suppliers and 600 pharmacies currently on its marketplace. In light of this recent acquisition, Aumet CEO Yahya Aqel highlighted, “Egypt is a crucial market for us, and Platform One has already set the building blocks for what’s next to come. The synergies that resonated between Aumet and Platform One were clear from the initial phases of interaction as both Companies are tech-focused digital solutions providers for the healthcare industry.”
Through this new power-partnership, pharmacies in Egypt will now get access to Aumet’s full product suite which includes Aumet MarketPlace, connecting Pharmacies with Pharmaceutical Suppliers through mobile app and web applications, Aumet Pharmacy, POS, and inventory management software solution, allowing pharmacists to manage their cash flow, and easily automating their orders with the “Stock Auto-Replenishment” feature connected to Aumet MarketPlace, and Aumet Pay, a payment gateway facilitating payments for Pharmacies and their Suppliers, disrupting traditional methods of cash collection. Aqel concluded with high hopes for this new merger “ We are extremely excited for our journey to come with the Founders of Platform One, Yossry Farghaly, Abdelhady Araby, and Osama Al-Atroush, who will be leading Aumet’s operations in Egypt.”
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