Nigerian health-tech innovator, MDaaS Global, has secured $3 million in pre-Series A funding to fuel its mission of improving healthcare access and expanding its network across the country.
Scaling Up for Wider Impact
The funding round, led by Aruwa Capital and Newton Partners with participation from Ventures Platform, brings MDaaS' total investment to $6.8 million. This fresh injection of capital will be used to:
- Launch BeaconOS: This proprietary technology platform streamlines operations, granting MDaaS visibility into daily activities across its diagnostic centers. BeaconOS facilitates efficient management of patient visits and clinical results, empowering care teams.
- Expand Geographic Reach: MDaaS plans to establish 23 additional diagnostic centers in the coming years, extending its presence to all Nigerian states. This expansion will be achieved through a combination of company-owned and affiliate clinics, forming a comprehensive healthcare network.
Addressing a Critical Gap in Healthcare
Access to quality healthcare, particularly preventive and diagnostic services, remains a significant challenge in Nigeria and throughout Africa. MDaaS directly addresses this gap by offering a range of services, including:
- Imaging: Digital x-ray, ultrasound
- Cardiac Services: ECG, echo
- Lab Services: Chemistry analysis, immunoassay, hematology
Patients can access these services through the SentinelX app, a personalized care program offering yearly access to a doctor for a one-time fee. Initially designed for individual consumers, SentinelX has successfully transitioned into a B2B model, catering to:
- Corporations: Annual employee screenings
- Pre-employment screenings
- Government-mandated screenings
Building an Integrated Care Network
MDaaS fosters collaboration with over 1,300 referring clinicians and 1,000 organizations, forming a robust integrated care network. This network encompasses:
- Hospitals
- Pharmacies
- Health-tech startups
- Corporate partners
- 34 HMOs (Health Maintenance Organizations)
Since its inception, MDaaS has served over 275,000 patients, with women constituting over 60% of the total. Notably, in the past year alone, MDaaS provided care to 108,724 patients and conducted over 240,000 diagnostic tests.
Leveraging Technology for Enhanced Communication and Efficiency
MDaaS actively leverages technology to enhance communication and streamline operations:
- Olewerk: Optimizes diagnostic workflows within MDaaS centers.
- Beam: Assists partners in managing occupational health for their teams.
The new investment will fuel the development of further technological solutions, including:
- Affiliate clinic portal: Enables real-time patient referrals and results management for affiliated clinics.
- HMO integration: Streamlines authorization processes.
- Patient-facing app: Facilitates appointment booking, result access, and health insurance management.
Investment Reflects Confidence in MDaaS' Mission
Aruwa Capital, a lead investor in this round, expressed their enthusiasm for MDaaS' potential:
"We are thrilled to partner with MDaaS Global on their mission to revolutionize healthcare delivery in Africa. MDaaS' track record of consistent and impressive growth, as well as their dedication to bringing high-quality diagnostics to high-need patients, resonated deeply with us." - Adesuwa Okunbo Rhodes, Founder and Managing Partner at Aruwa Capital.
A Commitment to Gender Diversity and Impact
Aruwa Capital, a gender-lens investor, highlighted their appreciation for MDaaS' commitment to gender diversity:
"As a gender-lens investor, we are especially excited to support a company that is driving change for women across Nigeria -- over 60% of BeaconHealth patients are women, predominantly of reproductive age -- and MDaaS shares our commitment to building gender-diverse teams."
MDaaS' expansion plans and technological advancements position them to significantly improve healthcare access and empower individuals across Nigeria to prioritize preventive care and early detection of health concerns.
