Medsaf, a Nigerian healthtech company that aimed to improve pharmaceutical sourcing and combat the spread of counterfeit medications, has officially shut down.
Founded in 2017 by Vivian Nwakah, the healthtech company aimed to streamline the pharmaceutical supply chain using technology. Over the years, Medsaf secured approximately $2.7 million in investment, including a notable $2 million injection in early 2022. However, rising operational costs, limited cash flow, and a challenging macroeconomic environment led to mounting financial strain.
In March 2023, Medsaf made headlines after laying off its entire full-time workforce. Several former employees reported delayed salary payments dating back months, with some benefits still outstanding.
By mid-2024, Medsaf had quietly wound down all activities, including shutting down its U.S.-registered corporate entity. The closure marked the end of a once-promising effort to digitise Nigeria’s pharmaceutical supply infrastructure.
The company’s shutdown is a stark reminder of the volatility healthtech ventures face in emerging markets, especially when reliant on fragmented supply chains and unstable payment ecosystems. Industry analysts point to Medsaf’s downfall as indicative of broader issues within Nigeria’s healthcare financing and logistics networks.
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