Nigerian E-health start-up, DrugStoc, secures US$4.4 million to expand its operations

NIGERIA – DrugStoc, a e-health drug procurement platform that eliminates pharmaceutical supply challenges by linking drug companies with institutions such as hospitals and pharmacies in Nigeria, has closed a US$4.4 million series A funding. DrugStoc is currently on an aggressive expansion plan to deliver quality pharmaceutical products to 100 million people within Nigeria. The startup plans to expand into 16 states within Nigeria as it moves to grow beyond Lagos, the economic hub of the West African country. This is besides its more grandiose plan of venturing outside Nigeria into…

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Meridian Health’s parent company, Africa health Holdings, secures US$18m funding

GHANA – Africa Health Holdings, a healthcare startup running several hospitals, has secured US$18 million in a Series A round, funds that will go towards building its tech-forward healthcare system across Ghana, Kenya and Nigeria. Africa Health Holdings, based in West Africa, will use the new capital to expand its telemedicine service beyond Ghana, to countries like Nigeria and Kenya. This is in line with its plan to grow its portfolio beyond in-person visits and to allow electronic follow-ups through its mobile app, as more people across the continent get…

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Nigeria’s Helium Health acquires Qatar’s doctor booking platform Meddy

NIGERIA – Helium Health, a health IT startup, has acquired Meddy, a Qatar- and UAE-based doctor booking platform, for an unknown sum. The purchase, according to Helium Health CEO Adegoke Olubusi, is unique in that it brings together two regions that rarely collide in technology: Africa and the Gulf Cooperation Council (GCC). “You don’t have a lot of people who can provide a suite like ours in the GCC. If they do, they’re doing it at a price point that’s so high that they’ve already priced out the market in…

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Healthtech startup Viebeg Technology secures US$1 million to deliver on its platform

RWANDA – Viebeg Technologies, a Rwandan health-tech startup, that provides high-quality medical supplies and equipment throughout Central and East Africa through an innovative data-driven procurement platform, has received a total of US$1 million in funding. The funding is from the Rwanda Innovation Fund (RIF), managed by Angaza Capital. “We are thrilled to invest in VIEBEG, with a mission to enable proper care for millions, VIEBEG’s team is utilizing advanced technologies and extensive knowledge to establish a sustainable revolution in a sector that is in a dire need of viable solutions,”…

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Morroco’s leading health group CIM Santé Group secures US$10 million equity funding

MOROCCO – OP Finnfund Global Impact Fund I, the first Finnish global emerging markets impact fund, has invested US$10 million in equity in CIM Santé Group, a leading Moroccan private healthcare group. Through this investment, OP Finnfund Global Impact Fund I aims to foster the development of Morocco’s healthcare sector, accessibility to quality care, and support gender equality in the sector, the Finnish fund said in a press release. Founded in 1994 by Professor Assad Chaara – a pioneer in developing cardiac catherization in the country, CIM Santé Group has…

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Health startup Shamiri raises US$1m to expand its impact across Africa

KENYA – Shamiri Institute, a mental health startup, has raised US$1 million in funding from the Templeton World Charity Foundation to tackle the scourge of mental health in Kenya and the rest of the African continent. According to the institute, the funding will enable them to build strategies for promulgating their character-based data-driven interventions to African youth and to scrutinise the long-term health objectives and outcomes of these interventions. Founded by Anzisha Prize Fellow Tom Osborn and partner Katherine Venturo-Coberly, Shamiri Institute is using social research data to respond to…

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HealthTech Bypa-ss raises US$1m funding round to expand its healthcare network

EGYPT – Bypa-ss, an Egypt-based HealthTech and Health Information Management company, has raised US$1 million in its newest fundraising round from Egyptian and foreign investors. The round also saw participation from Magic Fund, Acuity Ventures, Launch Africa, Plug and Play, and other regional and international VCs and Angel investors. Bypa-ss is currently looking to expand its client base and healthcare network, a process that is now possible thanks to recently obtained money, which coincides with the company’s recent rebranding. “With this investment coming in, we will be able to avail…

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E-health startup RecoMed raises US$1.5m funding for Kenyan expansion

SOUTH AFRICA – Online healthcare marketplace and booking platform RecoMed has raised a US$1.5 million funding round as it prepares to expand to Kenya in 2021. RecoMed allows patients to easily book appointments with a diverse selection of healthcare practitioners in their area, driving more patient volume to healthcare practices by integrating several patient booking channels into its platform. Patients and organizations use RecoMed as a seamless booking solution for over 2,500 public or private facing medical doctors, allied health professionals, and pharmacy clinics around the country. The startup powers over…

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Health tech startup mPharma enters Uganda with Vine Pharmacy acquisition

UGANDA – mPharma, a Ghanaian health startup, has acquired a major stake in Ugandan-based pharmacy, Vine Pharmacy. The move comes two years after mPharma bought Kenyan-based Haltons Pharmacy for US$5 million, signaling the startup’s entry into the East Africa region. mPharma acquired the 55% stake that was previously owned by private equity firm, Abraaj Group, which had folded up after issues about its administration of the US$1 billion healthcare fund it had received from investors, including the Bill and Melinda Gates Foundation. Abraaj had acquired Vine Pharmacy in 2013 when it…

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BioNTech to start building mRNA vaccine factory in Africa in mid-2022

RWANDA – German biotech company BioNTech has signed an agreement with the Rwandan government and Institut Pasteur de Dakar in Senegal on the construction of the first mRNA vaccine manufacturing facility in Africa starting in mid-2022, to help the continent ease health inequalities compared to other world regions. BioNTech, which developed the western world’s most widely used Covid-19 vaccines with partner Pfizer, will initially build a production line with 50 million doses annual capacity, which could be also used for Covid-19 vaccines, it said in a statement However, the partners…

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