Cassava Smartech Zimbabwe is adding to its portfolio of health companies by acquiring ambulance operator MARS Ambulance service. The acquisition comes at time when MARS was nearing bankruptcy.
In
confirming the deal to the Herald, Cassava Smartech Zimbabwe CEO Eddie Chibi
said the acquisition will save 200 jobs and ensure that a vital emergency
service continues in the country. He added that new investment would be
channelled into the ambulance service.
MARS will be
part of Maisha Health, Maisha is a digital health assistant designed to help
individuals identify symptoms of illnesses sooner rather than later.
“We would
like to ensure that the service comes back to international standards and
become the flag bearer in that industry. It will also service our EcoSure
customer base, which is over 2 million strong,” Mr Chibi said.
Vaya
recently announced that the company plans to register tractors and ambulances
on to its platform. Mr Chibi said the acquisition of MARS would not affect
Cassava’s plans to put all ambulances in the country on the Vaya Ambulance
service.
Mars was
placed under voluntary judicial management in February 2013 in terms of the
High Court Order HC 819/13, granted in Harare. At the time Mars applied for
judicial management, it had lost 45 percent of its revenue due to the liquidity
crunch and increased competition emanating from companies that offer the same
services.
Mars was
also affected by hyperinflation which depleted its capacity to replenish
ambulances, medical equipment as well as other critical resources.
