Tech in Africa
Nigeria and USA-based healthtech startup Helium Health has invested in UAE-based doctor booking platform Meddy. The investment is a unique overlap in tech between Africa and the Gulf Cooperation Council (GCC).
Helium Health’s new acquisition is part of an expansion play. The healthtech was founded in 2016 by Olubusi, Dimeji Sofowora, and Tito Ovia and offers digitized electronic medical records (EMR) and hospital management solutions. The company now offers additional services on its platform such as HeliumPay (a billing and payment solution), HeliumCredit (a no-collateral loan product), HeliumDoc ( a revenue cycle management service), and data analytics services.
According to a TechCrunch article, as part of the deal, Haris Aghadi Meddy’s CEO and Abed Alkarim Khattab COO will join Helium’s leadership and help in the company’s execution of strategy and operation.
To date, Helium Health has a presence in 6 African countries and has signed over 500 healthcare facilities. Over 7,000 medical professionals from these facilities provide care to over 300,000 monthly patients.
Meddy is a Y Combinator startup backed by Tencent. The company serves over 150 private clients within Qatar and the UAE and is backed by $1.8 million in VC funding. Over 200,000 doctor appointments have been facilitated in turn enabling healthcare providers to generate $130 million worth of billings. In 2019, Meddy secured $2.5 million for its UAE expansion.
Source: TechCrunch
It is a rare event for a health tech company from Africa to complete a Middle Eastern acquisition and we're so excited to join forces with Meddy to deploy more robust technology solutions across the GCC healthcare market.
— Helium Health (@HeliumHealth) November 11, 2021
