MDaaS reportedly secures $3 million pre-Series A to help improve access to healthcare in Nigeria. The firm MDaaS Global, a healthtech startup based in Nigeria, specializing in providing technology-enabled healthcare services to medically underserved communities across Nigeria and Africa, has revealed securing $3 million in pre-Series A funding.
MDaaS Secures $3 Million Pre-Series A
The latest funding round of $3 million for MDaaS Global was co-led by Lagos-based Aruwa Capital Management and Newton Partners, both of which are female-founded entities. Ventures Platform also participated in the round.
With this infusion of capital, MDaaS Global aims to expand its healthcare network significantly. The plan involves establishing a presence in every Nigerian state, utilizing a combination of company-owned clinics and affiliate partnerships. The overarching goal of this expansion is to enhance healthcare accessibility throughout Nigeria.
What is MDaaS Global
MDaaS Global, established in 2017, was co-founded by Oluwasoga Oni as CEO, Opeyemi Ologun as Country Manager, and Genevieve Oni as CFO. The startup operates diagnostic centers offering a range of healthcare services, including imaging (digital x-ray and ultrasound), cardiac services (ECG and echo), and various lab services such as chemistry analysis, immunoassay, and haematology.
Nigeria’s Challenge of Accessing Quality Healthcare
In Nigeria, the challenge of accessing quality healthcare remains significant, with many individuals neglecting prevention and only seeking treatment when illnesses become severe. Consequently, numerous potentially life-threatening diseases, particularly non-contagious ones, often go undetected until they reach an advanced stage.
MDaaS Global is actively working to address this healthcare disparity by expanding access to diagnostics and preventive care through innovative technology solutions. The company believes that the infusion of new capital will further support its mission to make quality healthcare more accessible to underserved communities.
How to Access MDaaS Global’s Services
Patients can conveniently access MDaaS Global’s services through the SentinelX app, a personalized care program that enables individuals to pay an annual service fee for access to medical professionals and healthcare services.
Following its pivot, SentinelX, originally designed for individual users, has undergone a significant transformation to cater primarily to businesses.
SentinelX as a Business-To-Business (B2B) Offering
According to CEO Oni, while SentinelX did not meet expectations as a business-to-consumer (B2C) product, it has thrived as a business-to-business (B2B) offering. The company has shifted its focus towards serving corporations by providing a range of services, including annual employee screenings, pre-employment screenings, and government-mandated screenings.
Oni emphasized that these business-oriented services have become a crucial revenue stream for MDaaS Global, complementing the individual customers who continue to visit its centers for various screenings.
What MDaaS Global Aims To Accomplish With the Funding
With the recent funding, MDaaS Global intends to scale BeaconOS, its proprietary technology platform introduced in 2023. BeaconOS serves as a company-owned technology solution that digitalizes patient records, streamlines appointment scheduling and optimizes diagnostic workflows. This digital infrastructure aims to enhance healthcare access, efficiency, and outcomes for millions of underserved Nigerians.
MDaaS Global Operates 17 Diagnostic Centers across 10 States
Presently, MDaaS Global operates 17 diagnostic centers across 10 states, serving a substantial patient base exceeding 275,000 individuals, with a predominantly female demographic. The company plans to expand its footprint by establishing an additional 23 diagnostic centers.
MDaaS Global Presence in the Nigerian Healthcare Landscape
MDaaS Global has established a significant presence in the Nigerian healthcare landscape, operating in 25 cities and collaborating with over 1,300 clinical partners, 34 Health Maintenance Organizations (HMOs), and approximately 1,000 organizations, including hospitals, pharmacies, health tech startups, and corporate partners.
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