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July 25, 2024
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$3 Million Boost for Nigeria’s MDaaS: Expanding Healthcare Network and Accessibility

Fueled by a  raise in pre-Series round, a Nigerian healthcare company and provider of BeaconHealth network diagno$3 millionstics, MDaaS Global aims to increase the number of people accessing quality healthcare Services. The investment was co-led by Aruwa Capital Management and Newtown Partnersl, with additional follow-on investment by Ventures Platform, a start-up focused private equity firm that had one of the earliest investments in the company. This upcoming funding adds up to $6.8 million brought by MDaaS Global as a total.

 

The newly secured fund will be channeled to the engineering team to develop further our cutting-edge technology, the BeaconOS, which was envisioned a year ago. In addition, MDaaS Global is dedicated to growing its healthcare network to cover all the 36 states in Nigeria by integrating owned and affiliate clinics. Through this move, the company has set its strategic target as an instrument of implementation of its mission in providing greater access to accurate diagnostics and healthcare services for all Africans.

 

MDaaS Global’s CEO, Oluwasoga Oni, said these following words, “It took us several years to develop a profound understanding of local health system’s limitations and present focal points as well.” Our globally gained knowledge has us harnessing this invaluable experience, and developing technology that specefically caters the African healthcare experience. BeaconOS , besides tackling our own problems , ideally helps customers and partners to articulate the solutions according to their needs and change face and formation of the healthcare delivery across Africa dramatically.

 

Oni added, “We are not growing beyond Nigeria for the sake of expanding our network. Expanding means more than just healthy growth. It means making healthcare a basic need rather than reaching out to the minority who can afford to use our hospital. It is about systemic change, affordability, accessibility and healthcare for all uncovered cases in the sub-Saharan Africa.”

 

Mrs. Adesuwa Rhodes, the Founder and Managing Partner at Aruwa Capital Management had a positive comment on this development as she remarked, “We are excited to see the future success of MDaaS Global in contributing to the strategic direction of Africa’s health sector”. The record of delivering great and durable results which is what is contain in MDaaS was the other aspect of their operations that held our attention. Also worthwhile mentioning is the passion that they have in bringing pathology from high-income earner patients to high-need patients. Addressing gender disparity is extremely vital to us and we are happy to support a female-focused company here in Nigeria, of which more than 60% of its patients are women who fall within the reproductive age, whom MDaaS demonstrated to have the same vision as us in this sense.

 

Llew Clasen, Newtown Partner’s managing director, commented: “At Newtown Partners, our investments are based on the perception of high growth potential and beneficial changes that companies could produce to the industry. This is what actually makes MDaaS Global a part of our funds.” MDaaS has been a constant source of inspiration ever since their first investment in 2021. It has been composed of their skillful ability to grow in a challenging environment, their distinctive approach to selecting technology, and their ambitious vision for providing healthcare at a global scale. It is a great privilege to continue to be a part of the vision of MDaaS and we truly believe in their ability to bring benefits to the patients and stakeholders, enabling the achievement of their mission and subsequent success.

 

Having a present network of 17 diagnostic centers in 10 states since year 2017, MDaaS Global served more than 275,000 patients which is a quite huge number. In the 12 months in particular, the company did gift a health stimulus to 108,724 patients, the two-thirds of who were women, and conducted the diagnostic tests of 240,000. The most common diseases recorded on the platform are hypertension, cancer, and diabetes; these are related to the lifestyle diseases that are on the rise in Nigeria because of the majority of people that are now living in the urban and more-privileged communities that have more access to non-communicable diseases.

 

Through the MDaaS Global developed Olewerk, the diagnostic workflows of partners are optimized, and Beam assists partners in health management. Additionally, new applications on BeaconOS platform, such as the affiliate clinic portal for the effective management of patients results in real time as well as health maintenance organizations (HMOs) or insurance integration for quick authorization to mention but a few are planned.

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