Health
How HealthPlus Founder Was Lured to Transfer 51.1% Stake to PE Investors
By Dipo Olowookere
One of the issues causing uproar in the business space in Nigeria at the moment is the leadership tussle between the founder of HealthPlus Limited, Mrs Bukky George, and the private equity investors in the pharmaceutical firm, Alta Semper Capital.
The issue became a public affair after the investors announced the removal of Mrs George as the CEO of the company and appointed Mr Chidi Okoro as the Chief Transformation Officer (CTO).
The founder kicked against this in a statement, where she maintained that her position as the head of the organisation remains intact, accusing Alta Semper of attempting to take the company away from her.
On Tuesday, the legal counsel of Mrs George issued a statement, where it was stated that the founder gave a controlling stake of the company to the foreign investors.
It was observed that while Mrs George controls 48.9 per cent stake in HealthPlus, the other investors have 51.1 per cent and the reason was that they promised to invest $18 million in the firm, but according to her, only $10 million has been released since the deal between both parties was sealed in 2018.
From information gathered by Business Post, Mrs George agreed to transfer the control of the company’s major stake to the private investors because it was one of the conditions for investing in the company and an arrangement was made for them to quit after five years when they would have recouped their investment.
Read the full details below:
Over the last few days, there have been in the news and social media, stories of the removal of Mrs Bukky George as CEO of Health Plus Limited (‘HealthPlus’), the appointment of one Mr Chidi Okoro as Chief Transformation Officer, and the attempted hostile takeover of the Company by agents of Alta Semper Capital (a foreign private equity firm which invested in the Company in 2018).
It has, therefore, become necessary for the Company to issue a formal statement on the on-going dispute and set the record straight.
Apart from matters of illegality and violations of extant Nigerian legislation that trail and taint the transaction (which are being articulated in Court), the following is a summary of the actual facts.
Background
HealthPlus was founded in 1999 by Mrs Bukky George and is Nigeria’s first integrative pharmacy and the largest and fastest-growing pharmacy chain in West Africa. As of March 2018, it operated 76 retail pharmacy and beauty stores, with presence in 11 states and the FCT, employing 800 Nigerians and was already the largest private employer of pharmacists in Nigeria.
In 2018, HealthPlus partnered with Alta Semper Capital LLC UK to inject fresh capital to grow the business. Alta Semper pledged Africa-focused, healthcare-focused, flexible capital to take advantage of the opportunities in the marketplace in order to scale the business.
The investment into HealthPlus was to enable the Company to capture the pent-up demand for high-quality yet affordable medicines, healthcare products and beauty supplies, to rapidly expand the company’s footprint across Nigeria, establish a distribution centre, develop B2B channels and e-commerce. Alta Semper Capital undertook to commit USD18 million into HealthPlus whilst retaining Mrs Bukky George as CEO.
Litigation
At the time of the equity investment in 2018, Mrs Bukky George transferred 95 per cent ownership of HealthPlus to a new entity called HealthPlus Africa Holdings Limited (incorporated in Mauritius), whilst retaining 5 per cent shares in her own name. HealthPlus Africa Holdings Limited is owned by Mrs Bukky George (46.2 per cent) and Idi Holdings (53.8 per cent). Idi Holdings is Alta Semper’s investment vehicle.
In essence, Mrs Bukky George owns (directly and indirectly) 48.9 per cent of HealthPlus and is the only Nigerian registered Pharmacist shareholder and director in the company.
Alta Semper Capital provided part of the first tranche of $10 million with which the company achieved several of the initiatives in its business plan. However, it soon appeared that they (Alta Semper) were unable to come up with the balance of the equity investment.
In May 2020, after 15 months of delayed funding, breached agreements, unmet expectations, dwindling inventory, reputational damage to the company and its founder, and an attempt to ‘promote’ Mrs Bukky George to the position of Chairman; Mrs Bukky George instituted legal action at the Lagos Division of the Federal High Court [in Suit No. FHC/L/CS/609/2020] seeking reliefs aimed at stopping Alta Semper Capital and its nominees from running and managing the company in an oppressive and prejudicial manner and in disregard of her interests as a shareholder.
There is pending, in that case, a Motion on Notice for Interlocutory Injunction dated May 27, 2020 seeking to restrain the Respondents from removing her as CEO.
Upon being served with the Court process, the Alta Semper Capital nominees who are Respondents to the suit did not file any defence but appealed that the parties mediate their dispute. They, however, chose to truncate the mediation process after three meetings over a period of three months. Their intransigence frustrated Mrs Bukky George’s other nominee director and the Chairman into resigning from the Board.
The Board (which by the transaction documents MUST comprise of five members) now has just three directors and has not met for the last six months. The next time that Mrs Bukky George heard from the Alta Semper Capital nominees was when they wrote to her, on September 25, 2020, wrongfully and unlawfully stating that they had terminated her appointment as CEO – when in fact they had no authority or power to do so.
The Takeover Attempt
On Wednesday, September 23, 2020, Mr Zachary Fond and other agents of Alta Semper Capital flew into Nigeria and were allowed entry on Visa on Arrival (VoA) basis.
In what appears to be a clear violation of the conditions of their respective VoA, they have been unlawfully parading themselves as Executive Directors of HealthPlus.
They have (albeit without any authority) sought to involve themselves in the day-to-day management of HealthPlus by inviting staff to meetings, purporting to issue directives, and issuing press statements, letters and mails on forged Company stationery to suppliers, bankers, security operators and regulators.
On Friday, September 25, 2020, Ms Afsane Jetha and Mr Zachary Fond in complete disregard of the pending Motion on Notice co-signed a letter on forged company stationery purporting to terminate Mrs Bukky George as CEO of the company.
The settled position of the law in Nigeria is that any attempt to remove Mrs Bukky George as CEO whilst the application for an interlocutory injunction is still pending amounts to flagrant disregard of, and an affront on the authority of the Court.
The Legal Position
Mrs Bukky George remains the Founder & CEO of the company and continues to run the company with the support of staff, suppliers, customers, landlords, banks and service providers – who have related with her over 20 years, who believe in her and her vision, and have helped her build the company to the enviable brand it has become. The purported termination of her appointment as CEO cannot stand in law.
This Notice serves as a caveat to the general public, the Pharmacists Council of Nigeria, Pharmacy Associations, our staff, loyal customers, vendors, landlords, bankers and all stakeholders to disregard all communication from Alta Semper Capital and or its nominees and agents. They do not have any authority to issue directives on behalf of or bind Health Plus Limited. The dispute is sub-judice.
Health
Adichie Demands Documentation of Late Son’s Treatment as Euracare Suspends Doctor
By Adedapo Adesanya
Nigerian author, Ms Chimamanda Ngozi Adichie, via her solicitors, has written to Euracare Multi-Specialist Hospital, Lagos, over the death of her 21-month-old son, Nkanu Nnamdi, seeking documentation of treatment before his untimely demise.
In a legal notice dated January 10, 2026, solicitors acting for the renowned author and her partner, Dr Ivara Esege, alleged that the hospital, its anaesthesiologist, and attending medical personnel breached the duty of care owed to their son, who died in the early hours of Wednesday, January 7, 2026.
The notice was issued on behalf of the parents by Pinheiro LP and signed by the founding partner, Prof Kemi Pinheiro (SAN).
According to the notice, the child was referred to the hospital on January 6, 2026, from Atlantis Pediatric Hospital for a series of diagnostic and preparatory procedures. These included an echocardiogram, a brain MRI, the insertion of a peripherally inserted central catheter (PICC line), and a lumbar puncture.
The procedures were reportedly part of preparations for an imminent medical evacuation to the United States, where a specialist medical team was said to be on standby to receive him.
The solicitors stated that intravenous sedation was administered using propofol.
However, it was alleged that during transportation to the cardiac catheterisation laboratory following the MRI procedure, the child allegedly developed sudden and severe complications.
Despite being under sedation, he was said to have been transferred between clinical areas under conditions that raised “serious and substantive concerns” about compliance with patient-safety protocols.
He was later pronounced dead in the early hours of January 7, 2026.
The legal notice outlines multiple alleged lapses in paediatric anaesthetic and procedural care.
These include concerns about the appropriateness and cumulative dosing of propofol in a critically ill child, inadequate airway protection during deep sedation, and an alleged failure to ensure continuous physiological monitoring.
The parents further alleged that their son was transferred without supplemental oxygen, without adequate monitoring, and without sufficient accompanying medical personnel.
They also raised concerns over the availability of basic resuscitation equipment, delayed recognition and management of respiratory or cardiovascular compromise, and an overall failure to comply with established paediatric anaesthesia, patient-transfer, and safety protocols.
Another major grievance cited was the alleged failure of the hospital to adequately disclose the risks and potential side effects of propofol and other anaesthetic agents, thereby undermining the legal requirement for informed consent.
According to the solicitors, these alleged lapses amount to prima facie breaches of the duty of care and render the hospital and all medical personnel involved liable for medical negligence resulting in the child’s death.
As part of their next legal steps, the parents demanded certified copies of all medical records relating to their son’s treatment within seven days of receipt of the notice.
The requested documents include admission notes, consent forms, pre-anaesthetic assessments, anaesthetic charts, drug administration records, monitoring logs, procedural notes, nursing observations, ICU records, incident reports, and the identities of all medical staff involved.
The demand also covers internal reviews, safety logs from the MRI suite, and any other documentation connected to the child’s care.
The hospital was also formally placed on notice to preserve all relevant evidence, whether physical or electronic.
This includes CCTV footage from procedure rooms and corridors, electronic monitoring data, pharmacy and drug inventory records, crash-cart and emergency equipment logs, as well as internal communications and any morbidity and mortality reviews.
The solicitors warned that “any destruction, alteration, or loss of such evidence after receipt of this letter shall be regarded as suppression or concealment of evidence and obstruction of the course of justice, and will be relied upon accordingly, with attendant legal consequences.”
The letter concluded with a warning that failure or refusal by the hospital to comply with the demands within the stipulated timeframe would leave the parents with no option but to pursue all available legal, regulatory, and judicial remedies against the hospital and all medical personnel involved.
Euracare Hospital had noted in a Saturday statement that it had commenced “a detailed investigation” into the incident in line with its clinical governance standards and best practices, while pledging to engage transparently and responsibly with all relevant clinical and regulatory processes.
Also, the Lagos State Government on Saturday said it began an investigation into the incident, vowing to ensure the full weight of the law is applied.
Speaking yesterday, the Special Adviser to the Lagos State Governor on Health, Dr Kemi Ogunyemi, said the doctor involved in the child’s procedure had been suspended by the hospital’s management, noting that the hospital was cooperating with the government in the investigation.
“The hospital itself is also doing its own internal investigation, and as far as we know, the anaesthesiologist involved has been suspended by the hospital,” she revealed.
Health
Chinamanda Ngozi Adichie Blames Medical Negligence for Son’s Death
By Adedapo Adesanya
Renowned Nigerian author, Ms Chinamanda Ngozi Adichie, has alleged that medical negligence was responsible for the death of her 21-month-old child.
The child, Nkanu, reportedly passed away on Wednesday, January 7, 2026, after a brief illness.
More details have emerged detailing the circumstances surrounding his death.
According to a leaked internal message sent privately to family members and close friends, Ms Adichie blamed a staff of Euracare Multi-Specialist Hospital, located in Victoria Island, Lagos, for causing the demise of the lad.
“My son would be alive today if not for an incident at Euracare Hospital on January 6th.
“We were in Lagos for Christmas. Nkanu had what we first thought was just a cold, but soon turned into a very serious infection and he was admitted to Atlantis hospital.
“He was to travel to the US the next day, January 7th, accompanied by Travelling Doctors. A team at Johns Hopkins was waiting to receive him in Baltimore. The Hopkins team had asked for a lumbar puncture test and an MRI. The Nigerian team had also decided to put in a ‘central line’ (used to administer iv medications) in preparation for Nkanu’s flight. Atlantis hospital referred us to Euracare Hospital, which was said to be the best place to have the procedures done.
“The morning of the 6th, we left Atlantis hospital for Euracare, Nkanu carried in his father’s arms. We were told he would need to be sedated to prevent him from moving during the MRI and the ‘central line’ procedure.
“I was waiting just outside the theater. I saw people, including Dr M, rushing into the theater and immediately knew something had happened.
“A short time later, Dr M came out and told me Nkanu had been given too much propofol by the anesthesiologist, had become unresponsive and was quickly resuscitated. But suddenly Nkanu was on a ventilator, he was intubated and placed in the ICU. The next thing I heard was that he had seizures. Cardiac arrest. All these had never happened before. Some hours later, Nkanu was gone
“It turns out that Nkanu was NEVER monitored after being given too much propofol. The anesthesiologist had just casually carried Nkanu on his shoulder to the theater, so nobody knows when exactly Nkanu became unresponsive.
“How can you sedate a sick child and neglect to monitor him? Later, after the ‘central line’ procedure, the anesthesiologist casually switched off Nkanu’s oxygen and again decided to carry him on his shoulder to the ICU!
“The anesthesiologist was CRIMINALLY negligent. He was fatally casual and careless with the precious life of a child. No proper protocol was followed.
“We brought in a child who was unwell but stable and scheduled to travel the next day. We came to conduct basic procedures. And suddenly, our beautiful little boy was gone forever. It is like living your worst nightmare. I will never survive the loss of my child.
“We have now heard about two previous cases of this same anesthesiologist overdosing children. Why did Euracare allow him to keep working? This must never happen to another child,” she wrote.
As of press time, it is not clear what the next line of action will be with the revelation.
Health
SUNU Health Named Most Customer Focused HMO of the Year
By Modupe Gbadeyanka
The decision of the management of SUNU Health Nigeria Limited to adopt the strategy of placing the enrollee and customer at the heart of its operations has started to pay off.
The company was recently announced as Most Customer-Focused Health Insurance Company of the Year at the Customer Service Standard Magazine Awards 2025.
The recognition underscored the company’s success in translating its dedication into tangible enrollee satisfaction and superior market service at the Nigerian Health Maintenance Organisation (HMO) landscape.
It also highlights the organisation’s dedicated efforts in streamlining claims processing, enhancing access to quality healthcare providers, and maintaining transparent, responsive communication channels with its diverse client base across Nigeria.
The accolade further serves as a powerful testament to the successful integration of digital solutions and human-centric service models at SUNU Health.
It positions the firm as a leader not only in providing robust health plans but also in delivering the supportive, personalized care that enrollees truly value.
“Clinching the Most Customer-Focused Health Insurance Company of the Year award is not just an honour; it is a validation of the core philosophy that drives every member of the SUNU Health team.
“We believe that healthcare is fundamentally a service industry, and our success is measured by the well-being and satisfaction of our enrollees,” the chief executive of SUNU Health, Mr Patrick Korie, commented.
“This award reinforces our resolve to continuously innovate and set new benchmarks for customer experience in the Nigerian health insurance sector.
“Our commitment to providing accessible, high-quality, and seamless healthcare solutions remains our top priority as we move into the new year (2026),” he added.
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