Medplus
Medplus is Nigeria's leading pharmaceutical retail chain, operating 143 stores across 19 states alongside an e-commerce platform, mobile apps, telehealth services, and AI-assisted ordering, serving Nigerian consumers with prescription and OTC medications, supplements, devices, lab tests, and vaccinations.
- Company typePrivate
- Founded1993
- HeadquartersTinubu, Nigeria
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Medplus does
Medplus Limited operates Nigeria's largest pharmaceutical retail chain, founded in 1993 by Mrs Joke Bakare, who serves as Founder and CEO. The business combines 143 physical pharmacy stores across 19 Nigerian states with an integrated e-commerce platform (medplusnig.com) and native iOS/Android mobile applications. Core retail operations span prescription and over-the-counter medications (1,450+ SKUs), vitamins and supplements (557+ SKUs), medical devices, first-aid supplies, sexual health products, and personal care items, augmented by in-store services including vaccinations, laboratory diagnostics (PCOS, fertility, STI, full body checkups), and pharmacist consultations.
The technology stack is a multi-channel retail platform unifying physical inventory, e-commerce, prescription upload/verification, loyalty accrual, and last-mile delivery (standard 2–5 day, same-day in select cities before 3pm). Medplus has integrated telehealth capabilities offering virtual consultations with doctors, pharmacists, and cosmetologists, and in October 2025 partnered with Mobihealth International to deploy in-store telehealth hubs at 150+ locations. A conversational AI layer, 'Medplus Assist,' handles product inquiries, stock checks, and order placement. Payment integration covers Paystack, debit cards, and bank transfers; a WhatsApp ordering channel and NDPR-audit-certified data handling round out the digital layer.
Medplus generates revenue through four streams: one-time retail pharmacy sales across physical and online channels (the dominant stream), transaction-fee telehealth consultations, transaction-fee in-store laboratory tests, and transaction-fee vaccinations. Pricing is unit-based pay-as-you-go in Nigerian Naira (NGN), with loyalty-point discounts and a discounted close-to-expiry section (9–15% off, no returns). The go-to-market is a hybrid direct-to-consumer model targeting individual Nigerian consumers (primary), telehealth users, preventive-health customers, and corporate/bulk buyers (secondary). The company is privately held; Verod Capital acquired a significant minority stake in March 2022 via Verod Capital Growth Fund III to fund store network growth and digital channel development.
Medplus firmographics
Firmographics- Name
- Medplus
- Legal name
- Medplus Limited
- Website
- https://medplusnig.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Medplus is Nigeria's leading pharmaceutical retail chain, operating 143 stores across 19 states alongside an e-commerce platform, mobile apps, telehealth services, and AI-assisted ordering, serving Nigerian consumers with prescription and OTC medications, supplements, devices, lab tests, and vaccinations.
- Ownership category
- akta.pro rank
Medplus industry classification
Industry- Product category
- Retail Pharmacy
- NAICS
- Pharmacies and Drug Retailers (456110), Health and Personal Care Retailers (456), Health and Personal Care Retailers (4561)
- SIC
- Retail-Drug Stores And Proprietary Stores (5912)
- akta.pro primary industry
- Retail & Community Pharmacies (Chain/Independent) (HLAFALAA)
- akta.pro secondary industries
- Health & Pharmacy Omnichannel (CRAFAEAK), Pharmacy & Health Essentials Delivery (CRAFAFAI), Health, Wellness & Pharmacy Marketplaces (CRAFABAF)
Keywords
Where Medplus is headquartered
LocationHeadquarters
- HQ city
- Tinubu
- HQ country
- Nigeria
- HQ region
- Africa
Offices7 records
Markets served
Medplus business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Retail Pharmacy Sales: One-time product sales across drugs, vitamins, supplements, medical devices, and personal care items through physical stores and e-commerce platform
- Telehealth Consultations: Virtual consultations with doctors, pharmacists, and cosmetologists generating service fees
- Laboratory Tests: In-store laboratory testing services including blood tests, STI tests, and health screenings
- Vaccination Services: Vaccination appointments and services offered at store locations
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Over-the-counter medications and wellness products |
| Unit Pricing | Pay-as-you-go | Prescription medications |
| Unit Pricing | Pay-as-you-go | Medical devices and diagnostics |
| Unit Pricing | Pay-as-you-go | Laboratory tests |
| Unit Pricing | Pay-as-you-go | Discounted/close-to-expiry products |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
Medplus product offering
Product offeringCore offering
Medplus is Nigeria's leading pharmaceutical retail chain, operating 143 physical pharmacy stores across 19 states alongside the medplusnig.com e-commerce platform and mobile apps. It sells prescription and OTC drugs, vitamins, supplements, medical devices, skincare, beauty, sexual health, and first aid products, while delivering telehealth consultations, in-store vaccinations, laboratory diagnostic tests, prescription upload/verification, a loyalty scheme, and same-day delivery.
Product overview
Medplus is Nigeria's leading pharmaceutical retail chain offering a unified platform combining physical pharmacy stores (143 locations), e-commerce operations, and telehealth services. The core offering includes an online pharmacy (medplusnig.com) enabling prescription uploads, online consultations with pharmacists and doctors, and home delivery of medications. The product portfolio spans over 2,900 products across drugs (prescription and OTC), vitamins/supplements, medical devices, skincare, and laboratory tests. Key services include telemedicine consultations, vaccination, in-store telehealth hubs (via Mobihealth partnership), loyalty program, and same-day/express delivery. The ecosystem is accessible via website, mobile apps (iOS/Android), and 24-hour physical stores.
Differentiator
Problem solved
Functional benefit
Products and services
- Drugs and Medications Prescription and over-the-counter medications across 1,450+ products including antibiotics, antimalarials, pain relievers, antihypertensives, antidiabetics, antifungals, hormonal/family planning products, antispasmodics, and topical treatments for Nigerian consumers.
- Vitamins and Supplements Health supplements spanning 557+ products including multivitamins, probiotics, heart health formulas, mineral supplements, omega-3, weight management, herbal supplements, beauty supplements, and pediatric formulations.
- Medical Devices and Diagnostics Health monitoring equipment and diagnostic kits including blood pressure monitors, glucose meters, nebulizers, and rapid test kits for various conditions, priced between ₦10,000 and ₦344,000.
- Skincare and Beauty Dermatological and personal care products including facewash, skincare, haircare, makeup, oral care, soaps, and beauty supplements for Nigerian consumers.
- First Aid and Surgical Supplies First aid supplies, surgical accessories, and medical consumables for personal and household use.
- Sexual Health Products Sexual health products including oral contraceptives, condoms, lubricants, fertility treatments, female sexual health products, and sexual enhancers.
- Laboratory Tests In-store diagnostic testing including PCOS tests, fertility and hormonal tests, UTI tests, STI tests, drug abuse tests, fever tests, driver screening, food handlers tests, domestic staff tests, pre-wedding tests, erectile dysfunction tests, and full body checkups.
- Vaccination Services Immunization services administered at Medplus pharmacy locations.
- Telehealth and Telemedicine Consultations Virtual consultations connecting customers with licensed doctors, pharmacists, and cosmetologists for medication advice, prescriptions, and health assessments, accessible online and via in-store telehealth hubs.
- Loyalty Rewards Program Rewards program where customers earn loyalty points on purchases and redeem them for discounts on future orders.
- Same-Day and Express Delivery Express delivery option with same-day fulfillment for prepaid orders placed before 3pm in select cities, alongside standard 2-5 business day nationwide delivery.
Quantifiable outcome
- Same-day delivery available for prepaid orders placed before 3pm
- +2 more outcomes
Companies that use Medplus
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles2 records
Medplus technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature4 records
Medplus partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Mobihealth InternationalstrategicMedplus Pharmacy partnered with Mobihealth International to launch telehealth hubs at over 150 Medplus stores across 19 states in Nigeria. The collaboration enables virtual doctor consultations at pharmacy locations with private booths, diagnostic support, e-prescriptions, and medication delivery, targeting busy urban dwellers and underserved populations.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Medplus competitors and assessment
Company assessmentRegional players
- Clicks Group: South African health and beauty retailer with pharmacy dispensaries inside stores. Comparable as a high-traffic pharmacy-and-beauty retailer with a strong loyalty program and clinic partnerships.
- Dis-Chem Pharmacies: Largest South African retail pharmacy chain with clinics, vaccinations, and in-store services. Comparable as a chain pharmacy operator that has integrated dispensary, clinic, and front-of-store health-and-beauty categories.
- Haltons Pharmacy: East African pharmacy chain (Kenya, Uganda, Tanzania) with dispensing and front-shop health/beauty offerings. Comparable as a multi-country African pharmacy chain pursuing franchised and corporate store growth.
- Goodlife Pharmacy: East African pharmacy chain operating in Kenya and Uganda with a hybrid physical-plus-digital model. Comparable as a multi-country African pharmacy retailer pursuing similar omnichannel and loyalty-led growth.
- mPharma: Ghana-headquartered pharmacy retail and drug supply chain operator with footprint across multiple West African markets. Comparable as a West African pharmacy chain with technology-enabled inventory and a private-equity-backed expansion model.
Emerging players
- Tata 1mg: Indian online pharmacy and digital health platform offering medicines, lab tests, and teleconsultations. Comparable because it bundles e-commerce pharmacy with diagnostics and virtual consultations — the same three-pillar stack Medplus is building around its 143 stores.
- PharmEasy: Indian digital pharmacy marketplace with prescription upload, e-consultation, and home delivery. Comparable as a tech-forward pharmacy model pursuing the same prescription-upload and telehealth workflows Medplus is building.
- Netmeds: India-based online pharmacy with prescription upload, last-mile delivery, and chronic-care management. Comparable as a digital-first pharmacy competing for the same prescription-driven repeat customer that Medplus targets.
Others
- Jumia Health: Pan-African e-commerce marketplace with health and pharmacy categories. Comparable as an adjacent digital channel competing for the same Nigerian online pharmacy demand and shaping consumer expectations on delivery and assortment.
Direct peers
- HealthPlus Pharmacy: Established Nigerian pharmacy chain competing head-to-head with Medplus in Lagos and other major cities. Direct overlap in prescription dispensing, OTC, beauty, and e-commerce, making it the most comparable peer in the same geography.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Medplus social profiles
Digital presenceMedplus compliance and trust
Trust signalCompliance1 record
Medplus financial estimates
Financial estimateRevenue estimate
Valuation estimate
Medplus leadership team
Management profileNumber of profiles
Profiles1 record
Medplus funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Medplus M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Medplus
What does Medplus do?
Medplus is Nigeria's leading pharmaceutical retail chain, operating 143 physical pharmacy stores across 19 states alongside the medplusnig.com e-commerce platform and mobile apps. It sells prescription and OTC drugs, vitamins, supplements, medical devices, skincare, beauty, sexual health, and first aid products, while delivering telehealth consultations, in-store vaccinations, laboratory diagnostic tests, prescription upload/verification, a loyalty scheme, and same-day delivery.
Is Medplus a public or private company?
Medplus is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Medplus founded?
Medplus was founded in 1993. It employs 251 to 500 people.
Where is Medplus based?
Medplus is headquartered in Tinubu, Nigeria, in the Africa region.
How does Medplus make money?
Four revenue lines are on record. Retail Pharmacy Sales are the primary driver. The others are telehealth Consultations, laboratory Tests and vaccination Services.
Who are Medplus's main competitors?
Regional players on record are Clicks Group, Dis-Chem Pharmacies, Haltons Pharmacy, Goodlife Pharmacy and mPharma. Emerging players are Tata 1mg, PharmEasy and Netmeds. Jumia Health is listed as an others. HealthPlus Pharmacy is listed as a direct peer.
Does Medplus have an API?
No public API is recorded for Medplus.
What industry is Medplus in?
Medplus's product category is Retail Pharmacy. Its primary akta.pro industry code is HLAFALAA, Retail & Community Pharmacies (Chain/Independent), with a secondary code of CRAFAEAK, Health & Pharmacy Omnichannel. Its NAICS code is 456110 and its SIC code is 5912.