Quro medical - Afrikan Heroes

South Africa’s Quro Medical Receives New $1.4m Investment for its Hospital-at-home Services

May 10, 2023

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.

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.

Quro Medical, the South African startup pioneering hospital-at-home services, has raised a $1.1m seed round - REGTECH AFRICA — *Source: Quora Medical*

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.

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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

South African eHealth Startup Quro Medical Secures $1.1m In A Rare Funding Round

April 15, 2021

Quro Medical, a Sandton, South Africa-based eHealth startup has landed $1.1 million after almost three years of operating secretly from by Kenya-based Enza Capital and South African VC firm Mohau Equity Partners. With the funding, the startup wants to attract and retain talent and extend into other African markets.

Mike Mompi, partner and CEO of Enza Capital — Mike Mompi, partner and CEO *of Enza Capital*

Why The Investors Invested

“As our collective healthcare systems struggle to care for patients beyond the walls of a hospital, which we’ve seen exacerbated with the onset of the COVID-19 pandemic, remote patient monitoring and healthcare delivery will undoubtedly form a core part of the lasting solution,” said Mike Mompi, partner and CEO of Enza Capital.

CEO Dr Penny Moumakwa of Mohau Equity Partners commenting on the investment said:

“We are very excited to be invested in Quro, they are a dynamic management team, building out a global medical solution, that will showcase the ability of entrepreneurs on the African continent in advanced digital healthcare.”

A Look At What Quro Medical Does

Founded in 2018, by Dr Vuyane Mhlomi, Zikho Pali and Rob Cornish in 2018 Quro Medical provides services to manage ill patients in the comfort of their homes.

Quro Medical now employs about 150 physicians. Mhlomi claims his business is a first mover in Africa, which means he anticipates the arrival of other players in line with industry trends. To meet the demands of its rising client base, the company, which now employs 150 physicians, aims to expand its hospital-at-home services and scale its operations across the world.

Most of the company’s big medical schemes (health insurance) in South Africa have been converted to customers, according to the company. They account for more than 90% of the country’s overall medical scheme market.

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 writer