Helium Well being , a Lagos-headquartered healthtech firm that gives Software program-as-a-service (SaaS) instruments, financing, and insights to healthcare suppliers and public well being organizations has raised $30M in Collection-B funding.
The spherical was led by AXA IM Alts with participation from Capria Ventures, Angaza Capital, Anne Wojcicki (Founding father of 23&Me) and Flatworld Companions. Current buyers World Ventures, Tencent, Ohara Prescribed drugs, LCY Group, WTI and AAIC additionally participated within the spherical.
“We imagine in a future the place good healthcare is a actuality for all Africans, not simply the few. We’re deeply dedicated to supporting each non-public healthcare suppliers and public well being stakeholders with finance, expertise, and information to realize that imaginative and prescient. We’re delighted to have such seasoned healthcare buyers accompany us on our journey,” stated Adegoke Olubusi, Helium Well being CEO/co-founder.
The capital can be used to develop the attain of its fintech product, HeliumCredit, the main digital finance product for Africa’s healthcare sector.
Launched in 2020, HeliumCredit has prolonged greater than $3.5M in credit score to over 200 healthcare services in Nigeria, together with hospitals, clinics, pharmacies, and diagnostics facilities, which have used the loans to buy medical tools, medicines in bulk, and develop their places. With simpler entry to credit score, healthcare suppliers are capable of enhance affected person retention, enhance revenues, and enhance the standard of care.
The Firm goals to launch HeliumCredit in Kenya this yr and enhance its lending portfolio to 1,000 healthcare services by 2024 in partnership with the U.S. Worldwide Improvement Finance Company (DFC).
On this development section, Helium Well being additionally seems to be to deepen its collaborations inside the public well being and world well being communities, one other core focus of its work.
World well being funders contribute about 15% of complete well being expenditure in sub-Saharan Africa and play a essential position in tackling the continent’s main causes of dying, reminiscent of HIV/AIDS, malaria, tuberculosis, maternal and baby mortality. Helium Well being goals to be the main expertise companion for public well being entities by supporting the implementation of their packages and methods in Africa.
Prior to now yr, Helium Well being has obtained funding from organizations such because the Invoice & Melinda Gates Basis and MSD for Moms to execute tasks underneath their maternal well being program methods.
The Firm will even proceed to scale its SaaS suite for healthcare suppliers, by HeliumOS, its Digital Medical Information and Hospital Administration Data System (EMR/HMIS) answer.
Utilized by greater than 10,000 well being employees to take care of over 1 million sufferers, it’s the widest-reaching EMR platform in West Africa.
Africa’s healthcare sector is closely undercapitalized, with a financing deficit of $66BN per yr. This lack of capital leads to poorly developed infrastructure and a shortage of well being employees. Africa has one of many lowest well being worker-to-patient ratios on the planet, with 1.55 well being employees per 1000 individuals. A poor-resourced atmosphere, coupled with the dearth of digitization and automation, negatively impacts healthcare supply, resulting in medical errors and lengthy affected person wait occasions. Lower than 10% of healthcare services in Africa are digitized.
Helium Well being seeks to deal with this problem by increasing the attain of its digital options to extra healthcare services throughout Africa and serving to under-resourced services ship high-quality care.
“We’re delighted to take a position, by AXA IM Alts’ influence investing methods, in Helium Well being’s mission of offering digital options to enhance the standard and efficacy of well being companies in useful resource constrained environments, while additionally instantly equipping well being sector enterprises with reasonably priced monetary companies. This funding instantly contributes to AXA IM Alts’ broader influence targets of bettering monetary inclusion and decreasing inequalities globally,” stated Jonathan Dean, Head of Impression Investing at AXA IM Alts.
“Now we have seen first-hand the evolution of Helium Well being through the years. The management group has a deep understanding of Africa’s healthcare sector and is aware of construct merchandise that meet its nuanced wants,” stated Noor Sweid, Managing Companion, World Ventures.