As part of the Company’s plans to expand its operations through new product development, the Company intends to add two new pharmaceutical plants for the production of Amoxyclav and Corticosteroid which is used in the treatment of bacterial infections. The projected capacity for the Amoxyclav and Corticosteroid plants is set at 2.85 billion tablets and 337 million tablets per annum, respectively.
Providing better access to healthcare
Incorporated in 2005, Me Cure Industries Plc (“Me Cure”, the “Company”) is one of Nigeria’s leading healthcare providers, with an ecosystem comprising Pharmaceuticals (manufacture and distribution of pharmaceutical products) and Healthcare (medical investigations, eye care, oncology, cardiac and dental care). The Company has its factory situated in Oshodi, Lagos with distribution managed across 3 depots in Kano State, Lagos State and Anambra State.
ME CURE INDUSTRIES PLC (“ME CURE”)
Me Cure is a leading manufacturer of medicines in Nigeria. The Company has almost two decades of operational experience in medicine manufacturing in Nigeria.
The Company produces primarily branded generic and over-the-counter medicines from its pharmaceutical facility in Lagos state. The Company has 142 medicine formulations in oral solid and oral liquid form across four product segments including acute medications i.e., antibiotics, analgesics, antihistamines, antacids, and expectorants), chronic medications (i.e., antiulcer), multivitamins and nutraceuticals.
Project Highlight
As part of the Company’s plans to expand its operations through new product development, the Company intends to add two new pharmaceutical plants for the production of Amoxyclav and Corticosteroid which is used in the treatment of bacterial infections. The projected capacity for the Amoxyclav and Corticosteroid plants is set at 2.85 billion tablets and 337 million tablets per annum, respectively.
Transaction Details
With InfraCredit’s guarantee, Me Cure was able to secure a NGN4 billion 12-month 15% bridge-to-bond facility from the NSIA Construction Warehouse Finance Facility and a NGN2.5 billion 12 – month 16.75% bridge loan facility from Stanbic IBTC Infrastructure fund.
As part of the Company’s plans to expand its operations through new product development, the Company intends to add two new pharmaceutical plants for the production of Amoxyclav and Corticosteroid which is used in the treatment of bacterial infections.
Project Highlight
As part of the Company’s plans to expand its operations through new product development
As part of the Company’s plans to expand its operations through new product development, the Company intends to add two new pharmaceutical plants for the production of Amoxyclav and Corticosteroid which is used in the treatment of bacterial infections. The projected capacity for the Amoxyclav and Corticosteroid plants is set at 2.85 billion tablets and 337 million tablets per annum, respectively.
Transaction Details
With InfraCredit’s guarantee, Me Cure was able to secure a NGN4 billion 12-month 15% bridge-to-bond facility from the NSIA Construction Warehouse Finance Facility and a NGN2.5 billion 12 – month 16.75% bridge loan facility from Stanbic IBTC Infrastructure fund.
In September 2023, Me Cure secured a NGN4 billion 12-month bridge-to-bond facility from the NSIA Construction Warehouse Finance Facility. In December 2023, Me Cure secured a NGN2.5 billion 12-month bridge loan facility from the Stanbic IBTC Infrastructure Fund. The proceeds of the facilities will finance the capital expenditure that relates to the two new pharmaceutical plants. It is expected that these bridge facilities will be refinanced via a NGN5 billion debt raise from the debt capital market and a NGN5 billion debt facility from the Bank of Industry by Q2, 2024.
| Issue date | 11th September 2023 | 21st December 2023 |
| Co-obligor | Me Cure Industries Plc | Me Cure Industries Plc |
| Principal Amount Outstanding | 4,000,000,000 | 2,500,000,000. |
| Sector | Social Infrastructure (Healthcare) | Social Infrastructure (Healthcare) |
| Tenor | 12 months | 12 months |
| Location of Operation | South-West, Nigeria | South-West, Nigeria |
| Asset Size & Capacity | Amoxyclav – 2.85 billion tablets P.A Coricosteroid – 337 million tablets P.A |
Amoxyclav – 2.85 billion tablets P.A Coricosteroid – 337 million tablets P.A |
