SoPharma has bought a majority stake in CESMA, a Moroccan company that imports and distributes medical devices. The deal takes SoPharma into the medical device business and adds hospital equipment to its growing healthcare activities. The two sides did not disclose the value of the deal or the exact size of the stake.
CESMA was founded in 1987 by Azeddine El Khenati and has nearly 40 years of experience in the country. The company supplies hospitals, clinics and healthcare professionals with medical equipment and products made by specialised international manufacturers.
Its products include equipment for anaesthesia and pain management, central venous and dialysis catheters, airway management, drainage, patient temperature control and other medical consumables.
El Khenati will remain involved in the company during the transition. He will work with CESMA’s teams and the new shareholders as the business moves into its next phase.
The deal gives SoPharma a presence in the medical device market. The group is also building a wider healthcare business that covers health products, food supplements, dermocosmetics, pharmaceuticals and plans for local manufacturing.
Averroes Holding and Ismail Cheikh-Lahlou founded SoPharma in 2022. The group has partnerships with international brands including Granions and Erborian. Its activities include food supplements and dermocosmetics.
SoPharma is also expanding its pharmaceutical business through specialised distribution, product development and industrial partnerships. The group plans to add manufacturing capabilities.
An EU-GMP-compliant manufacturing plant is currently being developed as part of that expansion. The first phase will focus on three areas: central nervous system treatments, oncology and cardio-metabolism. The planned facility is intended to supply markets in Morocco, Africa and the Middle East.
The CESMA deal comes as the health system is going through major changes. The country is expanding mandatory health insurance and investing in hospitals and other healthcare infrastructure. These changes are increasing demand for medical equipment, technology and healthcare products.
SoPharma’s existing businesses include a “Health and Comfort” unit focused on food supplements, with brands such as Granions and EA Pharma, and a “Skincare By SoPharma” unit focused on dermocosmetics, including its partnership with Erborian.
Adding CESMA brings medical devices, hospital consumables and critical-care products into the same business platform. SoPharma plans to combine CESMA’s specialised distribution network with its existing health and wellness activities.
CESMA has built long-term relationships with hospitals, clinics and healthcare professionals since its creation. Its work has focused on bringing specialised medical technologies from international manufacturers to the local healthcare market.
The company’s main areas include critical care and operating theatres, vascular access and renal care, airway management, surgical and clinical drainage, patient thermoregulation and single-use hospital products.
SoPharma’s wider strategy combines specialised distribution, product development and industrial production. The group aims to build an integrated healthcare business that can operate across Morocco and later serve wider African and Middle Eastern markets.
The financial advisers on the CESMA transaction were Ascent Capital Partners for CESMA and FinTrust Capital for SoPharma. ASAFO & Co. advised CESMA on legal matters, while LAWAL and Ecovis Morocco worked with SoPharma on legal, financial and audit matters.
