Knife Capital buys a significant minority stake in PharmaScout

Knife Capital has bought a significant minority stake in 5nines Technologies which owns an internet of things (IOT) pharmaceutical temperature monitoring solution based in South Africa called PharmaScout. This product was created to meet the requirements of the South Africa Pharmacy Act which states that pharmacies must ensure that medication is stored at the right temperatures in order to ensure product effectiveness for the end consumer. PharmaScout is already working with some blue-chip pharmacies such as Clicks. The investment is expected to further expand PharmScout’s reach and provide additional services such as storage facilities for pharmaceutical products. The amount invested was undisclosed.

 

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