African Healthcare Startup CarePoint Raises $10M

Ghana-based healthcare startup CarePoint has raised $10 million in a bridge funding round as it builds a series of what it calls “micro-tech-enabled-clinics,” per reports on Wednesday (May 18).

The company lets patients access virtual care through its MyCareMobile app, which lets them access consultations with their doctors, test results, and 24-hour emergency response via teleconferencing.

The micro-clinics will have about 12 employees, including a nurse, and will let patients 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,” CarePoint founder Dr. Sangu Delle told TechCrunch.

“These clinics are a way of democratizing access, and taking quality healthcare closer to the people while making it affordable to them too.”

Learn more: Technology Plugs the Financing Gap, Democratizes Healthcare Access in Emerging Markets

PYMNTS looked at this issue in March during a conversation with Femi Kuti, co-founder and CEO of Nigeria-based HealthTech firm Reliance Health.

“Essentially, financing is the biggest problem when it comes to accessing healthcare. Almost 30% of families — some places as high as 50% — are one health care expense away from bankruptcy,” Kuti told PYMNTS.

In the company’s core market of Nigeria, only about 4% of people have access to healthcare financing, leaving remaining the 96% — about 190 million people — with expensive out-of-pocket costs every time they seek medical care. Others are forced to wait until their conditions have worsened before seeking medical help.

“It’s a crazy irony when the poorest people are paying for healthcare in the most expensive structure, and that’s what we’re trying to disrupt in the market today,” Kuti said.

CarePoint — formerly Africa Health Holdings — says it will use part of the funding to build data science and AI teams, as well as introduce new products.

The funding round was led by TRB Advisors, with participation from Breyer Capital, Beyond Capital Ventures (BVC), M3 Inc, Asia Pacific Land/ Natural World Limited, and Alan Waxman.