The Mineworkers Investment Company (MIC) has made a significant investment of $1.4 million (R25m) in Quro Medical, a healthtech startup. This investment was made through MIC’s venture capital initiative, Khulisani Ventures. It is the first investment by MIC Khulisani Ventures in the digital healthcare space, further diversifying its investment portfolio. MIC Khulisani Ventures focuses on unlocking the high-growth potential of scalable, innovative, black-owned businesses.
Quro Medical, which offers hospital-at-home services to patients, was founded in 2018 by Dr Vuyane Mhlomi and Zikho Pali, with a promise to use technology to make healthcare more accessible and affordable. In 2020, Quro Medical launched Hospital at Home, which provides clinically appropriate and patient-centric hospital-level care to qualifying patients in their homes. According to MIC, since the launch, over 1000 patients have been successfully treated in their homes with similar or improved levels of clinical outcomes and a better patient experience.
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MIC believes that with its support, Quro Medical will be able to further develop its technology and expand its reach, improving healthcare outcomes and reducing costs for patients and providers. The healthtech has also partnered with South Africa’s largest private hospital group, Life Healthcare.
Thato Ntseare, MIC Impact Investment Manager, explains that Quro Medical presents MIC with a new and exciting track for impact investment strategy. He adds that remote patient management is a growing trend globally, and Quro Medical demonstrates similar growth opportunities in South Africa. Ntseare also emphasizes the potential for increasing accessibility to healthcare services presented by the impact of Quro Medical’s business.
Dr Vuyane Mhlomi, Quro Medical’s co-founder and CEO, says that the company’s technology-enabled solutions are designed to provide seamless, patient-centric care that puts the patient first. He adds that they are leveraging cutting-edge technology and evidence-based protocols to monitor patient health proactively, ensuring that every patient receives the best possible care in the comfort of their own home. Zikho Pali, co-founder, and COO of Quro Medical, says that they are proud to be the African pioneer and leader of the Hospital at Home Program. She further explains that with their clinical-grade real-time monitoring and personalized care, they are improving patient outcomes and reducing the burden on traditional hospital systems.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard