CarePoint, a technology-driven healthcare startup, has raised a $10 million bridge round to accelerate its growth across Africa as it seeks to make healthcare accessible to the masses.
The startup, which is currently in Nigeria, Kenya, Ghana, and Egypt, is planning to expand to North and East Africa to continue its expansion driven by mergers and acquisitions.
The latest funding round was led by TRB Advisors which brought the total funding raised by CarePoint to $30 million. It follows an $18 million Series A round announced mid-November last year.
New and existing investors who took part in the bridge round include Delle, Breyer Capital, Beyond Capital Ventures (BVC), M3, Inc, Asia Pacific Land/ Natural World Limited, and Alan Waxman who is Sixth Street Partners’ CEO.
What the company is saying
The startup’s founder and CEO, Dr. Sangu Delle, said they are in the process of setting up telemedicine centers in their facilities and building “micro-tech-enabled-clinics” targeted at the masses. This will grow CarePoint’s, formerly known as Africa Health Holdings, portfolio beyond in-person visits.
- “The micro-clinics will have, at most, 12 employees, including a nurse. The patients will consult with doctors virtually. We are taking this route because we realized that as much as the mobile subscription in Africa is great and growing, if you look at it from an internet penetration perspective, so many people are still locked out because they cannot afford mobile data,” said Delle.
- “These clinics are a way of democratizing access and taking quality healthcare closer to the people while making it affordable to them too,” he said.
Patients can also access care virtually through CarePoint’s MyCareMobile app, which links them to various services through teleconferencing, including consultations with their doctors, test results, and 24-hour emergency response. The startup is backed by five brands, including Sahe in Egypt, Meridian Health Group in Kenya, Rabito Clinic in Ghana and Nigeria’s Care Point, and Lilys Hospitals, all operating a total of 65 facilities.