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Fidson Grow PAT by 26% to N203m in Q1 2018

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By Dipo Olowookere

One of the leading players in the healthcare sector in Nigeria, Fidson Healthcare Plc has shown why it is a force to reckon with in the industry.

The firm, in its unaudited financial statements for the period ended March 31, 2018, recorded an increase in profit after tax (PAT), which closed at N202.8 million compared with N161 million as at March 2017.

Also, the profit before tax increased year-on-year to N298.2 million in Q1 2018 from N236.7 million in Q1 2917, when it was still struggling to get back on its feet from the recession suffered by the country in the second quarter of 2016, which affected many businesses operation in Nigeria.

According to the financial results of Fidson, the revenue generated in the period under review rose to N3.6 billion from N3.4 billion in the corresponding period of last year.

However, the gross profit in Q1 2018 dropped to N1.7 billion from N1.8 billion in Q1 2017.

The company further revealed in the unaudited statements that the operating profit increased to N538.8 million in the first three months of this year from N450.7 million in the first three months of last year.

It was also indicated in the results that the total assets of the firm as at March 31, 2018 stood at N17.8 billion against N17.5 billion as at December 31, 2017, while the total liabilities ended in Q1 2018 at N9.9 billion versus N9.8 billion in FY 2017.

Business Post, from the analysis of the financial statements, gathered from Fidson spent more on administrative expenses in Q1 2018 than in Q1 2017.

A total of N705.3 million was used to run the company in the period under review against N654.9 million in Q1 2017.

The payment of salaries of workers gulped N162.3 million in Q1 2018 versus N166.8 million in Q1 2017, N61.4 million was spent on travelling against N58.1 million last year, N33.4 million for diesel and fuel in Q1 2018 compared with N70.4 million in Q1 2017, N12.7 million on consultancy in Q1 2018 against N2 million in Q1 2017, repairs and maintenance gulped N151.6 million in Q1 2018 versus N66.2 million in Q1 2017, conferences and workshops raked N7.3 million in Q1 2018 in contrast to N1.3 million in Q1 2017, N7.3 million was spent on telephone, internet and postage in Q1 2018 against N9.4 million in Q1 2017, printing and stationary gulped N12.7 million in the period under review against N6.3 million in the corresponding period of last year, canteen exp and auxiliary material tools raked N30.4 million from the company in Q1 2018 against N10.4 million in Q1 2017, while N15.3 million was used for CSR activities in the first three months of 2018 versus N3.9 million in the first three months of 2017.

Also, during the period under review, selling and distribution expenses gulped 522.8 million against N653.5 million in the same period last year, while N250 million was used to pay interest on bank loan against N214 million used in Q1 2017.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Lagos Commences Screening of Newborns for Sickle Cell Disease

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sickle cell disease screening Lagos

By Modupe Gbadeyanka

The Lagos State government has kicked off an initiative to ensure that every newborn is screened for Sickle Cell Disease within 48 to 72 hours after birth using a simple heel-prick test.

It was gathered that babies identified as being at risk will immediately be placed on preventive care while awaiting confirmatory testing.

The Head of the Haematology Department at the Alimosho General Hospital, Dr Olubukola Orolu, revealed that an estimated 150,000 babies are born annually with Sickle Cell Disease in Nigeria, giving the country one of the highest SCD burdens globally.

She, however, applauded the Lagos State Government and the Clinton Health Access Initiative (CHAI) for introducing the state-wide newborn screening programme, describing it as a major step towards reducing childhood deaths associated with the disease.

The commencement of this scheme coincides with the 2026 World Sickle Cell Day, themed Young Voices Rising for Sickle Cell Disease – Closing the Survival Gap: Equity in Sickle Cell Disease.

It highlights the importance of listening to the experiences and aspirations of young people living with Sickle Cell Disease.

Mrs Orolu noted that SCD warriors are increasingly breaking barriers as advocates, leaders, students and change-makers, adding that their voices have continued to reshape the narrative through advocacy for equitable, patient-centred healthcare, self-care and experience sharing.

She, therefore, called for equal access to quality healthcare, survival opportunities and dignity for everyone living with Sickle Cell Disease.

Also commenting, the chief executive of Alimosho General Hospital, Dr Akinyele Akinlade, described Sickle Cell Disease as an inherited blood disorder that is not contagious, noting that individuals living with the condition are more susceptible to infections.

He advised SCD warriors to stay well hydrated, avoid stress, and protect themselves from extreme cold or heat, as these are common triggers of sickle cell crises, adding that these preventive measures can significantly reduce the frequency and severity of crises.

One of the participants, Ms Borokini Zainab, an SCD warrior and student nurse, expressed appreciation to the organisers for the enlightenment programme.

Sharing her personal journey, she spoke about the challenges of balancing recurrent pain crises with her academic pursuits and personal life. Despite moments of frustration, she encouraged fellow warriors not to lose hope.

“Don’t let sickle cell put you down. Be encouraged from within. Don’t let your dreams be shattered because of this,” she said, adding that her personal experience with Sickle Cell Disease inspired her to pursue a career in nursing so she could support others living with the condition.

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Evon Labs Unveils Health-Tech Incubation Initiative HealthX Catalyst

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Evon Labs Isioma Udeozo HealthX Catalyst

By Aduragbemi Omiyale

A 12-week health-tech incubation programme tailored for early-stage founders in Nigeria has been introduced by an innovation and venture-building platform, Evon Labs.

This initiative, known as HealthX Catalyst, will help participants to create scalable, investable solutions for Africa’s urgent healthcare issues.

The programme is underway, with 12 selected founders nearing the final weeks of intensive incubation, ending with a Demo Day on June 24, 2026, at the UNDP innovation centre in Lagos, where the small business owners will present their solutions to an audience of investors, healthcare leaders, development organisations, and technology partners.

The initiative selects early-stage healthcare founders and immerses them in a structured 12-week development process. Throughout this period, participants receive personalised and group mentorship from seasoned professionals across the healthcare, technology, and business sectors.

They also receive structured support for startup development, including refining business models, developing value propositions, and validating markets.

Additionally, participants gain access to a network of healthcare practitioners, sector experts, and industry leaders, along with targeted investment-readiness assistance to prepare them to engage with investors and strategic partners after the programme.

The result is a cohort of founders who move through the programme not simply with a refined pitch, but with a validated business model, a stronger professional network, and a clear pathway to growth.

To accelerate the most promising solutions beyond the programme, monetary grants will be awarded to the top three founders to support product development, pilot implementation, market validation, and early-stage scaling.

It was learned that HealthX Catalyst was developed in response to a structural gap in the African health-tech ecosystem.

Across the continent, a growing number of entrepreneurs are building solutions to healthcare problems from access and diagnostics to service delivery and health data infrastructure. Yet many of these early-stage ideas fail to progress beyond concept, not for lack of vision, but for lack of structured support: mentorship, startup development frameworks, industry access, and early-stage funding pathways. HealthX Catalyst was built to provide exactly that.

“Africa does not have a shortage of healthcare innovators. What it has lacked is the infrastructure to turn its ideas into sustainable businesses. HealthX Catalyst is that infrastructure, a serious, structured programme designed to take founders from early-stage ideas to investable startups.

“What we are seeing from this first cohort is exactly what we set out to create: founders who are not just building products, but building businesses that can scale and create lasting impact,” the founder of Evon Labs, Ms Isioma Udeozo, said of the unveiling of HealthX Catalyst.

The partners of the programme are the United Nations Development Programme (UNDP), Odua Investment Company Limited (OICL), Washington University of St Louis, Missouri, Lagos State Employment Trust Fund (LSETF), and Brooks Insights.

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Binance Promises $250,000 for Ebola in DR Congo, Uganda

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Binance

By Aduragbemi Omiyale

The sum of $250,000 in humanitarian funding is to be provided by Binance to support the frontline response to the ongoing Ebola disease outbreak in the Democratic Republic of Congo (DRC) and Uganda.

The cryptocurrency exchange said the funds would be used to enable rapid response in high-risk and underserved areas, where access to healthcare infrastructure, protective resources, and timely public health information remains limited.

The money will be shared equally between the Uganda Red Cross Society and Doctors Without Borders / Médecins Sans Frontières (MSF), supporting urgent interventions in affected and high-risk communities.

Binance’s contribution will help strengthen emergency medical care and treatment, community awareness and prevention campaigns, contact tracing and containment support, and the provision of sanitation supplies and protective equipment for frontline workers.

By supporting both immediate response activities and preventative education, Binance aims to contribute to reducing transmission and strengthening community resilience.

“Communities across Africa continue to show extraordinary resilience in the face of complex challenges, but frontline responders should not have to face crises like this alone,” the co-chief executive of Binance, Mr Richard Teng, said.

“The teams working to contain the Ebola disease outbreak are delivering vital, life-saving support under incredibly difficult conditions.

“We are proud to support both the Uganda Red Cross Society and Doctors Without Borders as they work to protect vulnerable populations, strengthen local response efforts, and deliver urgent care where it is needed most,” he added.

Also commenting, the Secretary General for the Uganda Red Cross Society, Mr Robert Kwesiga, said, “Strong partnerships are essential during public health emergencies since we are not able to manage the outbreak alone.

“The support from Binance comes in so timely and handy, and will help us respond more rapidly, reach more at-risk communities, and reinforce the frontline services needed to help contain the outbreak and save lives.”

The MSF Emergency Programme Manager, Trish Newport, while speaking on the initiative, said, “The number of cases and deaths we are seeing in such a short timeframe, combined with the spread across several health zones and now across the border, is extremely concerning. In Ituri, many people already struggle to access healthcare and live with ongoing insecurity, making rapid action critical to prevent the outbreak from escalating further.”

Caused by the Bundibugyo virus, for which there is no approved vaccine or treatment, this Ebola disease outbreak has placed acute pressure on already fragile health systems in eastern DRC and the wider region.

Local authorities, international agencies, and humanitarian organisations are racing to contain it and protect affected communities.

Binance’s support is intended to reinforce these efforts at a critical moment. It reflects the company’s broader commitment to supporting communities across Africa through programmes focused on education, financial inclusion, digital skills development, and community empowerment.

In this case, Binance is extending that commitment to urgent humanitarian and public health needs by working alongside trusted organisations with deep frontline expertise.

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