Healthtech startup, CarePoint, has secured $10 million in a bridge round of funding. The company will use the money to spread healthcare technology in African countries.
CarePoint, a tech-driven healthcare firm, has secured $10 million in a bridge round to help it expand throughout Africa and make healthcare more accessible to the general public.
After Kenya, Nigeria, and Ghana, the business recently entered Egypt, its fourth African market. It is currently focusing on North and East Africa to continue its mergers and acquisitions-fueled expansion.
Dr. Sangu Delle, the company’s founder and CEO, said they are in the process of establishing telemedicine centers at their facilities and constructing “micro-tech-enabled-clinics” aimed at the general public.
CarePoint, formerly known as Africa Health Holdings, will expand its offering beyond in-person visits as a result of this.
The micro-clinics will employ a maximum of 12 people, including a nurse. Patients will have virtual consultations with physicians.
“These clinics are a method of democratizing access and bringing high-quality healthcare closer to people while keeping it inexpensive,” he explained.
Patients may also get virtual treatment using CarePoint’s MyCareMobile app, which connects them to a variety of services via teleconferencing, such as medical consultations, test results, and 24-hour emergency response.
Sahe in Egypt, Meridian Health Group in Kenya, Rabito Clinic in Ghana, and Nigeria’s Care Point and Lilys Hospitals are among the startup’s five brands, which operate a total of 65 institutions.
After a long career as an investor and CEO at Golden Palm Investments, a venture business focused on early-stage possibilities in Africa, where he now serves as chairman, Delle launched CarePoint.
To put it in perspective, we (Africa) account for around 16% of the global population, 26% of the global illness burden, but just 3% of global healthcare employees and 1% of global healthcare resources.
We must close the deficit immediately, or we will be in serious difficulty,” he said.
Delle called for immediate action and investment in the healthcare sector, citing the continent’s population set to nearly quadruple in the next three decades as an example.
“Based on our thesis and pilot, we believe we can leverage technology to democratize access and increase the quality of care,” Delle added.
CarePoint will utilize some of the funds to expand its data science and artificial intelligence teams, as well as introduce new products, according to Delle.
TRB Advisors led the current fundraising round, which takes CarePoint’s total capital to $30 million.
It comes on the heels of a $18 million Series A financing announced in November of last year.
Delle, Breyer Capital, Beyond Capital Ventures (BCV), M3, Inc, Asia Pacific Land/ Natural World Limited, and Alan Waxman, CEO of Sixth Street Partners, were among the new and current investors in the bridge round.
Eva Yazhari, a general partner at BCV, said, “CarePoint is at the forefront of providing solutions through its three fundamental pillars of a scalable network of healthcare facilities, a robust technological backbone, and patient-centered care highlighted by the first Africa-focused healthcare data repository,” .
Beyond Capital Ventures is thrilled to be a part of CarePoint’s Series B bridge financing, and will collaborate with Dr. Sangu Delle to help expand an emergent technology-driven healthcare system in Africa… CarePoint is capturing demographic shifts to transform Africa into the next frontier for healthcare and transform health outcomes.”