Toyota Tsusho Corporation ("Toyota Tsusho") announced today that its affiliate CFAO SAS ("CFAO") has established Health54 SAS ("H54"), a corporate venture capital company specializing in startup investment in the rapidly growing field of health technology in Africa. In addition, the company invested in Lifestores Healthcare ("Lifestores"), a healthcare startup in Nigeria, on October 12, 2022, as its first investment project.

Toyota Tsusho Group is strengthening its efforts to provide reliable and affordable access to quality healthcare in Africa. In addition to licensed production of pharmaceuticals in Morocco and Algeria, the Group delivers approximately 31,000 different types of pharmaceuticals each day to approximately 8,600 pharmacies and hospitals in 22 African countries through its pharmaceutical wholesale business. Furthermore, the Group invested in Goodlife Pharmacies in Kenya in April 2022, expanding its business into the pharmaceutical retail field in Africa for the first time as Toyota Tsusho Group.

CFAO believes that innovation and digitization are critical to addressing social challenges in Africa and has established H54, which invests in innovative startups in the healthcare field. Along with Mobility54, which invests in the mobility sector, Toyota Tsusho Group supports the business expansion of startups with the aim of creating synergies with existing businesses and building sustainable win-win relationships.

Nigeria is the most populous country in Africa, with a population of over 200 million people that is expected to double by 2050. The country faces severe challenges due to a combination of factors, including a low-income population accounting for 98% of the total population that lives on less than $10 a day; low levels of healthcare financing; a fragmented pharmaceutical supply chain; areas with poor access to healthcare; and a flood of dangerous counterfeit pharmaceuticals.

Following the launch of a chain of retail pharmacies in Nigeria in 2017, Lifestores has developed technologies to improve pharmacy operations, secure and strengthen procurement processes, and manage the health of patients who suffer from chronic diseases.

Lifestores launched OGApharmacy, an online pharmaceutical marketplace for hospitals and pharmacies, in 2020 with the goal of providing mass access to affordable and reliable pharmaceuticals in Nigeria. OGApharmacy enables small retailers to access products from leading manufacturers without having to go through multiple players in the value chain by aggregating their purchasing needs, and offers up to 20% off traditional selling prices. Lifestores also has a FinTech component and can offer customized financing solutions and credit terms to its customers. Lifestores currently works with approximately 600 hospitals and pharmacies and provides pharmaceuticals to approximately 10 percent of the market share in Nigeria, approximately 100,000 patients. It aims to provide reliable and affordable pharmaceuticals and medical services.

With this investment in Lifestores, Toyota Tsusho Group will work to build a supply chain in the pharmaceutical retail field in Africa, while striving to provide high-quality pharmaceuticals and medical services to as many people as possible.

Based on the "WITH AFRICA FOR AFRICA" philosophy, Toyota Tsusho Group seeks to grow with the people and communities of Africa, and will strengthen its healthcare business with the aim of further contributing to the health of people in Africa.

Company name	Health54 SAS
Location	Boulogne-Billancourt, France
Established	January 2022
Capital	10 million Euro
Representative	CEO Côme Vercken
Shareholder	CFAO SAS 100%
Business description	Investment in rapidly growing innovative healthcare technology and services startup companies in Africa

Company name	Lifestores Healthcare
Location	Lagos, Nigeria
Representative	CEO Bryan Mezue, Andrew Garza
Business description	A medical technology company that provides comprehensive management and pharmaceutical solutions to retail pharmacies and operates retail pharmacy chains

Please see the link below for the press release from CFAO (external link)
https://www.cfaogroup.com/en/lifestores-healthcare-closes-3m-pre-series-a-round-led-by-health54/