Location: London, UK
Employment Type: Permanent
Closing Date: 24 June 2018
Background to MedAccess and CDC
MedAccess is a social finance company that ensures medical products and services are more widely available at lower prices, particularly in Africa and South Asia. Established in November 2017 with an initial investment of $200 million from CDC Group Plc (CDC), MedAccess is now recruiting a high-quality team with specialist skills in structured finance, risk quantification, and global health. Following evidence of early successful guarantees, the capital base is expected to increase by at least 5x in the first few years.
Many people in Africa and South Asia lack access to safe and affordable medicines. MedAccess aims to tackle that challenge by helping to make global markets work more effectively. The organization negotiates price ceiling guarantees, reduces the business risks associated with supplying medicines, and collaborates closely with governments and development agencies to increase access to safe and affordable medicines in-country. Evidence shows that guarantees can immediately reduce prices by at least 50% through reducing manufacturers’ risk of long-run, efficient production.
MedAccess’ work covers vaccines, medicines, diagnostic tests, and medical devices for both communicable and non-communicable diseases. Its involvement aims to smooth supply volatility, bring new products into use more quickly, and reduce costs while increasing access to life-saving products. The aim is to create long lasting changes in markets so that increased access and price reductions persist far beyond the expiry of a guarantee.
MedAccess is a UK company governed by an independent board, and will use the highest quality commercial and financial rigour to create significant development impact. The financial objective is capital preservation and will be achieved through the team’s expertise in assessing and structuring each guarantee and through charging manufacturers a small fee. All income will be reinvested into MedAccess to maximise benefits for patients.
MedAccess’ parent company, CDC, is the world’s oldest development finance institution (DFI), founded in 1948. Our mission is to support the building of businesses throughout Africa and South Asia, to create jobs and make a lasting difference to people’s lives in some of the world’s poorest places. As a DFI, we can take a flexible and patient approach because value creation in our markets often takes many years to materialise. CDC is wholly owned by the UK Government’s Department for International Development (DFID) and plays a key role in DFID’s private sector strategy to alleviate poverty.
For further information on CDC, see www.cdcgroup.com
As a member of deal teams and a global health expert, work closely with other global health and investment professionals to identify, diligence, and advance new deal opportunities through the investment process and to support post-deal monitoring. This role reports to the CTO, Colleen Connell.
Support global health market research
Build MedAccess pipeline
Evaluate and execute new investment opportunities
Communication: Appropriate written/verbal communication to effectively carry out role
Team Working: Collaboration with own team and other employees
Results Focus: Drive to achieve objectives/results
Creative: Innovative approaches to problem solving
Intellectually Curious: Personal desire and interest to learn new things and explore new challenges
Analytical: Ability to digest large amounts of information and capture key themes
The role is based in London or Brighton and requires significant travel (greater than 30%.)
Please submit a cover letter with your application.
Posted on: 25 May 2018
Closing on: 24 June 2018