Ghana-based Telemedicine Startup, Africa Health Holdings, Raises $18m Series A
Africa Health Holdings, a healthcare startup with multiple hospitals and telemedicine services, has raised $18 million in a Series A round. The cash will be used to expand the company’s “tech-forward healthcare system” throughout Ghana, Kenya, and Nigeria.
TRB Advisors, Breyer Capital, M3, Inc., Valiant Capital, Kepple Ventures, and SUNU Capital all participated in the investment round, which was led by Asia Pacific Land/Natural World Limited.
“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 firm’s chairman and CEO, Sangu Delle.
Africa Health Holdings plans to use the funds to expand its telemedicine service beyond Ghana, to Nigeria and Kenya. As more individuals throughout the continent become connected, the company plans to expand its portfolio beyond in-person meetings and allow electronic follow-ups using its mobile app.
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Why The Investors Invested
The company has garnered considerable traction since it was founded. To date, approximately 200,000 patients use Africa Health Holdings’ telemedicine platform for referrals and treatment each year.
Africa Health Holdings operates 40 facilities under three names in three countries: Meridian Health Group in Kenya, Rabito Clinic in Ghana, and Care Point Hospitals in Nigeria. In Kenya, the Meridian Health Group has 16 hospitals, as well as a drug and alcohol treatment center. In Ghana, Rabito Clinic Limited has 21 dermatology and general medicine facilities, whereas in Nigeria, Care Point Hospitals Limited has two hospitals and a clinic. In addition to pharmacies and laboratories, Africa Health Holdings has operations in all three nations.
The pedigree of the founder was also crucial for investors making this investment. CEO Sangu Delle is a Harvard and Oxford graduate, as well as a World Economic Forum Young Global Leader. He was also the founder and former CEO of Golden Palm Investments, an investment holding company focused on early-stage African possibilities.
A Look At What The Startup Does
The startup was launched in 2017. Its MyCareMobile app is stated to give patients access to a variety of services via teleconferencing, including doctor consultations. This is in addition to offering access to test findings and emergency response 24 hours a day, seven days a week.
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The firm now has a bold plan to expand its reach in its current three areas while also looking into prospects in East, North, and Southern Africa. This is in line with their goal of becoming Africa’s largest healthcare provider.
“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,” he said.
Africa Health Holdings
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write