Medplus

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.

Name

Medplus

Legal name

Medplus Limited

Website

https://medplusnig.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1,001–5,000 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

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

• Retail pharmacy services
• Pharmaceutical retail
• Online pharmacy
• Prescription medications
• Health and wellness products

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Retail Pharmacy Sales: One-time product sales across drugs, vitamins, supplements, medical devices, and personal care items through physical stores and e-commerce platform
2. Telehealth Consultations: Virtual consultations with doctors, pharmacists, and cosmetologists generating service fees
3. Laboratory Tests: In-store laboratory testing services including blood tests, STI tests, and health screenings
4. Vaccination Services: Vaccination appointments and services offered at store locations

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core 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

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

One partnership is on record.

• Mobihealth InternationalstrategicTechnology or Integration · 6 October 2025Medplus 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

Regional 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

• LinkedInlinkedin.com/company/medplus-pharmacy-limited

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Medplus