MDaaS World, a Nigerian well being tech firm that operates a community of tech-enabled diagnostic facilities throughout the nation, has secured $3 million in pre-Sequence A funding.
The spherical was led by Aruwa Capital and Newton Companions, the latter of which was the lead investor within the well being tech’s $2.3 million seed extension in 2021. MDaaS additionally obtained follow-on capital from Ventures Platform, bringing its complete funding to $6.8 million.
In accordance with its assertion, MDaaS will use the funding to launch BeaconOS, the proprietary know-how platform it launched final 12 months. The seven-year-old well being tech additionally plans to broaden its healthcare community to cowl all Nigerian states by a mixture of company-owned and affiliate clinics.
Entry to healthcare in Nigeria and throughout Africa stays a big problem. Whereas some entry exists, folks are inclined to prioritize treating illnesses slightly than prevention. Consequently, life-threatening illnesses, particularly non-communicable ones, typically go undetected till later phases. Enhancing entry to diagnostics and preventive care, a website the place MDaaS has garnered recognition, is crucial in tackling this healthcare problem.
Since our earlier protection a couple of years in the past, the startup has expanded its operations considerably, with a present community of 17 diagnostic facilities throughout 10 states. Trying forward, MDaaS plans to assemble an extra 23 facilities within the coming years. Based in 2017 by CEO Oluwasoga Oni, Opeyemi Ologun and Genevieve Oni, MDaaS provides a spread of providers at its diagnostic facilities, together with imaging comparable to digital x-ray and ultrasound, cardiac providers like ECG and echo, and numerous lab providers spanning chemistry evaluation to immunoassay and hematology.
MDaaS founders (L-R):Opeyemi Ologun (Nation Supervisor), Joseph McCord (Director of Provide Chain), Genevieve Oni (CFO), Oluwasoga Oni(CEO)
Sufferers entry these amenities by the platform’s SentinelX app, which serves as a customized care program permitting them to pay a one-time price for yearly entry to a physician. Initially designed as a customer-centric product, MDaaS has tailored SentinelX to cater extra to companies.
“Whereas SentinelX didn’t carry out in addition to a B2C product, it has been extremely profitable as a B2B product. We now deal with serving corporates and conducting annual screenings for his or her staff,” defined CEO Oni in an interview with TechCrunch. “We’ve additionally included pre-employment screenings and government-mandated screenings, which have turn into a big income alongside particular person clients who go to our hospitals for screenings.”
BeaconOS and an built-in care community are pivotal to MDaaS’s operations and progress in Nigeria.
Because the working system for MDaaS’ diagnostic amenities, BeaconOS supplies the corporate with visibility into the day-to-day operations of its facilities, facilitating simpler administration of affected person visits and medical outcomes for its groups. Alternatively, MDaaS’ care community entails collaboration with over 1,300 referring clinicians throughout greater than 1,000 organizations, together with hospitals, pharmacies, well being tech startups, company companions and 34 HMOs.
Since its inception, MDaaS has supplied care to over 275,000 sufferers, leveraging its built-in care community and BeaconOS capabilities. Prior to now 12 months alone, the well being tech served 108,724 sufferers, with ladies constituting 60.8% of the whole. Moreover, MDaaS carried out over 240,000 diagnostic checks, with chest x-rays, urinalysis and full blood rely rating among the many prime three procedures carried out.
“We are inclined to display lots of people that work with corporates and what we see is that there’s actually excessive ranges of hypertension within the nation,” mentioned Oni, highlighting a few of the commonest prognosis on the platform. “We simply see that many employees battle with way of life and non-infectious illnesses like most cancers, hypertension, diabetes. The roots of these kind of issues like that’s really rising, we are able to see that in our knowledge factors and we assist them get the care they want.”
To ease the communication between its diagnostic facilities and shoppers, MDaaS rolled out Olewerk to assist optimize diagnostic workflows and Beam to help companions in managing occupational well being for his or her groups. With the brand new funding, MDaaS intends to develop new functions on the BeaconOS platform, together with an affiliate clinic portal for real-time affected person referrals and outcomes administration, and combine with HMOs to streamline authorization processes and develop a patient-facing app for appointment reserving, end result entry and medical health insurance administration.
“We’re thrilled to associate with MDaaS World on their mission to revolutionize healthcare supply in Africa. MDaaS’ monitor document of constant and spectacular progress, in addition to their dedication to bringing high-quality diagnostics to high-need sufferers, resonated deeply with us,” mentioned Adesuwa Okunbo Rhodes, founder and managing associate at Aruwa Capital of the funding.
“As a gender-lens investor, we’re particularly excited to help an organization that’s driving change for ladies throughout Nigeria — over 60% of BeaconHealth sufferers are ladies, predominantly of reproductive age — and MDaaS shares our dedication to constructing gender-diverse groups.”
