iNNOHEALTH, a South African e-health startup, has secured a seven-figure seed investment from an undisclosed Hong Kong-based VC for its AI-based healthcare platform, which it hopes will put it at the forefront of the country’s digital healthcare.
The startup was founded in 2020 by medical doctors Chad Marthinussen and Wade Palmer, as well as chartered accountant Abdul Malick Salie, with the goal of delivering quality, affordable, and equitable healthcare to all Africans.
MyPocketHealth, a doctor-led patient healthcare platform that will provide comprehensive AI-driven digital healthcare solutions for all South Africans once it launches later this year, is the startup’s first product.
The MyPocketHealth platform, according to Marthinussen, will minimize the need for in-person medical consultations by allowing patients to acquire the best, most economical medical advice and care right from their phones.
“What we’ve seen is a 55 per cent increase in out-of pocket medical expenditure, when 40% of all forms of healthcare can be virtualized. Additionally, 78 per cent of South Africans have missed appointments because of cost,” he said.
The founders will be able to scale the product for a nationwide user base and leverage AI-functionality for the delivery of critical primary healthcare services and products thanks to the initial minority stake VC funding, which comes from a Hong Kong-based firm that chooses not to be named at this time.
The increasing strain on the public health system as a result of the pandemic, according to Palmer, a practicing medical practitioner, makes this app a crucial healthcare management tool.
“This platform is a full-service offering that provides users with access to low-cost medical care, and allows you to get your script, to have control of your medical records, your scans and blood results – which makes your entire experience holistic,” he said.
“We want to move South Africa away from telemedicine to virtual care. We want integration into the NHI, as well as to become Africa’s biggest digital care provider of tech solutions, products and services.”