We were formed in 2017 to tackle market inefficiencies that disrupt access to healthcare. Today, our three active guarantees are helping to increase access to healthcare products in underserved communities.
MedAccess was established in November 2017. We were originally formed as The Credit Facility for Access to Medicines, in response to ongoing concerns within the global health community that access to medical supplies in low- and middle-income countries was being impeded by market inefficiencies.
MedAccess was founded by CDC Group plc, the UK’s development finance institution, with support from the Department for International Development (now replaced by the Foreign, Commonwealth & Development Office (FCDO)) and the Clinton Health Access Initiative (CHAI). MedAccess is wholly-owned subsidiary of CDC.
We began work on our first volume guarantee in early 2018. This resulted in an agreement with Hologic – a medical technology company – to provide its Panther® viral load testing platform for HIV, hepatitis B and C (HBV and HCV) and human papillomavirus (HPV) to 12 countries in sub-Saharan Africa, which was announced at the 2018 International AIDS Society Conference.
Negotiations and due diligence on a volume guarantee for BASF’s Interceptor® G2 insecticide-treated bed nets were conducted in 2019. The agreement, which will accelerate access to an innovative mosquito-control technology for communities in malaria-endemic countries, was announced at the Global Fund Replenishment Conference in Lyon in October 2019.
In July 2020, in response to COVID-19, we announced a partnership with UNICEF to increase and accelerate access to medical supplies for doctors and nurses on the frontlines of the pandemic.
$200m capital authorised by CDC in preparation for MedAccess’ incorporation.
MedAccess formally incorporated. Michael Anderson begins work as CEO. Start of due diligence on Hologic Panther volume guarantee proposal.
Nigel Keen appointed Board Chair. First $100 million of paid-in capital issued by CDC.
Volume guarantee for Hologic’s Panther platform launched at AIDS 2018 conference.
Assessment of potential volume guarantee for BASF’s Interceptor G2 bed net begins.
Panther volume guarantee starts.
MedAccess takes on responsibility as lead negotiator for proposed Interceptor G2 guarantee.
Interceptor G2 guarantee announced at Global Fund Replenishment event. Guarantee starts immediately, backdated to January 2019.
CDC pays in further $100 million capital, taking MedAccess’ capitalisation to $200 million.
Following an expedited process, MedAccess announces a $50 million guarantee for UNICEF to accelerate procurement of vital COVID-19 medical supplies