Private equity firm Amethis has acquired a minority stake in Avacare, a distributor and manufacturer of pharmaceuticals and healthcare consumable products, mainly operating in Southern Africa.

Avacare was founded in 1996 by Dr Vikramkumar Naik, an anesthesiologist born in Zimbabwe. From a local disposable distribution company created in Harare, Avacare has successfully become a pan-African pharmaceutical distributor and manufacturer operating across a large number of African countries ...