Image Credit: FSDH Capital

March 27, 2023/FSDH Capital

FSDH Capital announces the launch of the Mecure Industries Plc (“Mecure”) Series 6, 7, & 8 Commercial Paper offer of up to ₦4 billion under its ₦20 billion Commercial Paper Issuance Programme (the “Offer”). The Offer is NOW OPEN and scheduled to close on Friday, March 31, 2023.

Mecure Industries Plc is a leading human therapeutics company in the Nigerian pharmaceutical industry. 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, Mecure industries Plc has contributed hugely to the advancement of medical practice in Nigeria with the use of technology and innovation. Mecure pioneered the development of novel products based on advances in technology and launched the pharmaceutical industry’s first tablet in a capsule formulation called Liquitab Floatcap.

Last year, the company introduced a PET-CT (Positron Emission Tomography and Computed Tomography) based treatment program for cancer. Mecure is the only hospital offering this gold standard for cancer staging which has led to referrals by oncologist 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 Mecure’s dedicated medical oncology facility with 12 chemotherapy suites, 4 bunkers for LINACs (Linear Accelerator) and two reserved floors for surgical oncology comprising of 63 beds.

Also, Mecure is expecting the delivery of Linear Accelerator in the second quarter of 2023. 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.

Link to Medical Oncology Facility – https://www.youtube.com/watch?v=atASH1pcwcE

In addition, a new program set at making cancer treatment accessible and affordable to the growing populace is being introduced – the 20:80 Mecure BeatMyCancer program – aimed at leveraging the community bond and trust culture of the Nigerian people. Registrations under the 20:80 Mecure BeatMyCancer program have commenced, and the company is targeting a market share of 4% and N15 billion in the next 2 years.

Mecure industries Plc has a stable and experienced executive management team with a history of consistent superior financial performance and returns. The company has a stable outlook, with a short-term rating of A2 by GCR and A1 by Data Pro.

Please see the link for the supporting Issue documents for your review and consideration: 

• Investors’ Presentation
• Programme Memorandum
• Supplementary Memorandum
• DataPro Issuer Rating Report;
• GCR Issuer Rating Report;
• MeCure’s 2023 PenCom Compliance Certificate;
• MeCure’s Audited Financial Statements (2019– 2022