3elagi, an Egyptian startup that provides an easy means for people to order beauty and health products from the nearest pharmacy, has been acquired by a pharmaceutical company called Ibnsina Pharma.
Through a dedicated mobile app, 3elagni has simplified the purchase and delivery of health and beauty-related products to its users.
The mobile application works by pairing patients willing to purchase medication or cosmetics online with the pharmacy closest to them. It allows the user to search, compare products, and order online from their mobile phones.
As of now, the startup has recorded over 600,000 users of its services. Unfortunately, the firm has been sold to another company.
For EGP 25 million, 3elagi has disposed 75% stake of its business to Ibnsina Pharma. However, the remaining 25% stake will be with the founders of the start, who intend to keep working for 3elagi.
Ibnsina Pharma, which started operations in 2001, happens to be the second-largest pharmaceutical company by market share in Egypt. Over the years, the firm has climed to the top steadily as it now distributes pharmaceutical products to over 42,000 customers, including wholesalers and medical facilities.
Ibnsina’s acquisition of 3elagi aligns with its digital transformation vision. Meanwhile, in July, Ibnsina unveiled its online ordering platform to ease the purchase of pharmaceutical products.
“The acquisition was triggered by the growing importance of e-commerce, especially during this COVID-19 era. The lockdown that was initiated by most nations of the world revealed the need to give patients access to buy their pharmaceutical needs without leaving their respective homes,” said Mohsen Mahgoub, Chairman at Ibnsina Pharma.