Health Plus, a pharmaceutical company, has accused Alta Semper Capital, a foreign private equity firm (PEF), of a fraudulent attempt to take over its business.
In a rejoinder to a press release earlier issued by the PEF, Health Plus dismissed the appointment of Chidi Okoro as chief transformation officer and the claim that Olubukunola Adewunmi George, Chief executive officer, remains a director and shareholder.
Health Plus stated that it entered into a five-year partnership with Alta Semper Capital in 2018 to inject fresh capital to further grow the business
George, the rejoinder stated, was prepared to give PEF a controlling stake in order for them to realise their investment.
However, it added, PEF started working on schemes aimed at taking over the business after seeing the vastness of the Nigerian market.
PEF, according to Health Plus, deliberately starved the company of funds, neglected its obligations to the business, appointed Okoro as CTO and was running the company in utter disregard for George’s wishes.
The chairman of the Board of Directors was said to have resigned two days ago while another director resigned five weeks ago over the debilitating effect of the impasse on the company.