Me Cure to Launch N4bn Commercial Paper –FSDH Capital
Me Cure Industries Plc, a leading human therapeutics company in the pharmaceutical sector plans to launch up to N4 billion commercial papers in an effort to support working capital requirements.
In a statement released by FSDH Capital, the sum will be raised across series 6, 7 and 8 commercial paper issuance under Me Cure’s N20 billion commercial programme.
Detail shows that series 6 commercial paper will have 90 days tenor. Series 7 paper has 180 days and series 8 is for 180 days with a minimum subscription of N5 million.
Amidst the plan to strengthen cancer patients with world-class services, the human therapeutic company has pumped money into standard equipment to support its drive for excellence.
The Company recently converted to a Public Limited Company (PLC) in line with its promise to investors to list its shares on the NGX trading platform. For over 15 years, FSDH Capital said.,
It noted that Mecure industries has contributed hugely to the advancement of medical practice in Nigeria with the use of technology and innovation.
The company pioneered the development of novel products based on advances in technology and launched the pharmaceutical industry’s first tablet in a capsule formulation.
“Last year, the company introduced a PET-CT (Positron Emission Tomography and Computed Tomography) based treatment program for cancer”, FSDH stated.
It added that Mecure is the only hospital offering this gold standard for cancer staging which has led to referrals by oncologists from leading hospitals across the country increasing revenue by 250% from just 500 patients alone.
Chemotherapy, Immunotherapy, Targeted and Hormonal therapy are the main areas of focus for cancer treatment at Me cure’s dedicated medical oncology facility with 12 chemotherapy suites, 4 bunkers for LINACs (Linear Accelerator) and two reserved floors for surgical oncology comprising 63 beds, FSDH wrote.
The company is expected to take the delivery of Linear Accelerator in the second quarter of 2023 to optimise service delivery to its growing customers’ needs.
“The arrival of the Linear Accelerator will make Mecure a complete one-stop cancer treatment facility, which covers diagnostics to treatment via chemotherapy and radiotherapy, and it is expected to generate an additional N2.0 billion to N3.0 billion in revenue per annum”, FSDH said.
