Healthcare startup, Africa Health Holdings closes $18,000,000 Series A round
Healthcare startup, Africa Health Holdings, has secured $18,000,000 in a Series A round to expand operations across Ghana, Kenya and Nigeria.
The funds raised will stimulate the growth of Africa Health Holdings beyond Ghana, into new countries such as Nigeria and Kenya. The telemedicine service provider also plans to take more advantage of the current digitalisation trend, allowing electronic follow-ups through its mobile app and connecting with more people across the continent.
The company, founded on a goal to address Africa’s disproportionate share of the global disease burden, seeks to expand its footprint within its three current markets and explore opportunities within East, North and Southern Africa.
Led by Asia Pacific Land/Natural World Limited, investors who participated in the round included TRB Advisors, Breyer Capital, M3, Inc., Valiant Capital, Kepple Ventures and SUNU Capital.
The startup has developed an app — MyCareMobile, which enables patients to seamlessly consult their doctors and access a wide range of services through teleconferencing. Interestingly, Africa Health Holdings runs on a 24-hour emergency response service and provides access to test results round the clock.
“Africa Health Holdings will expand by bringing its telemedicine technology to multiple countries. Currently, the telemedicine service is only in Ghana, but soon, it will be expanding to Kenya and Nigeria,” said Sangu Delle, chairman and CEO, Africa Health Holdings.
Delle is a World Economic Forum Young Global Leader, and a Harvard and Oxford graduate. He is also the former CEO of Golden Palm Investments; an investment holding company with an interest in early-stage opportunities in Africa.
According to Delle, increased demand for virtual consultations, which have grown owing to the Covid pandemic as people seek alternative ways of getting the attention of health professionals, has accelerated the company’s plans to adopt telemedicine. The health care provider attends to about 200,000 patients annually, who utilises the telemedicine platform for referrals and treatment.
“Always thinking about what is coming next and how to get quality healthcare to more people, Africa Health Holdings has begun investing in micro-tech-enabled clinics with virtual doctors’ offices that are filled with diagnostic technologies, and nursing support, specifically for people from lower socioeconomic classes,” said Delle.
“Individuals are able to enter micro-tech-enabled clinics, meet with doctors virtually, consult with nurses, and receive treatment and/or referrals for additional care at a reduced cost.”
Africa Health Holdings has three brands in three different countries; the Meridian Health Group in Kenya, Rabito Clinic in Ghana, and Nigeria’s Care Point Hospitals, all operating 40 facilities.
The company has its eyes fixed on becoming the biggest healthcare provider in Africa and the Meridian Health Group owns 16 hospitals in Kenya including a drug and alcohol recovery centre.
Rabito Clinic Limited in Ghana, has 21 dermatology and general medical facilities, while Care Point Hospitals Limited has two hospitals and a clinic in Nigeria. Africa Health Holdings also operates pharmacies and laboratories across the three countries.
