MDaaS Global, a healthtech startup that is developing and operating a network of contemporary, tech-enabled diagnostic centers across Nigeria, has acquired $2.3 million in seed funding and added SentinelX to its product lineup.
Newton Partners, an early-stage venture capital firm, led the round, which also included CRI Foundation, FINCA Ventures, Techstars, and Future Africa.
With this funding, SentinelX, a digital health membership that promotes preventive, tailored, and continuous care through patented technologies, will be launched.
The new capital increases MDaaS Global’s total funding to $3.7 million; in addition to the launch of SentinelX, this additional funding will allow the firm to rapidly extend its physical footprint across Nigeria, allowing it to become the country’s largest diagnostic chain.
MDaaS Global has worked to provide access to important diagnostic services for underserved and geographically challenged communities since its inception.
SentinelX expands on that purpose by democratizing access to comprehensive preventive care, which helps members identify and address health hazards before they become problems.
SentinelX is a subscription-based annual membership that starts at just N35,000.
“Unrestricted access to great healthcare has always been our primary goal, and the epidemic has driven us to explore innovative ways of providing more proactive care,” MDaaS Global CEO and Co-Founder Oluwasoga Oni said. As we seek to serve more people in more ways, this new financing will help us grow.”
“Most consumers in Sub-Saharan Africa receive inadequate medical care because of infrastructural gaps, low physician density, diagnostic delays, and a lack of health data visibility,” says Llew Claasen, Managing Partner of Newtown Partners. We believe that the physical diagnostic infrastructure that MDaaS is developing, combined with the ability to collect data and deliver value-added software services, has the potential to completely transform the way physicians, clinicians, and pharmacists practice medicine, resulting in improved health outcomes for a large number of previously underserved consumers.”
MDaaS Global, which was founded in 2017 by Oluwasoga Oni, Opeyemi Ologun, Genevieve Barnard Oni, and Joseph McCord, has seven centers in Ibadan, Ilorin, Osogbo, Lagos, and Abuja, with ambitions to expand to six more cities by 2021. The healthcare company has given diagnostic services to over 40,000 patients in underserved communities, and has grown its workforce capacity to over 70 since its seed funding in 2019. Over 80,000 diagnostic tests in cardiology, radiology, neurology, laboratory, and general health checks have been performed by the company. MDaaS has worked with over 500 health facilities and ten HMO networks, bringing its referral network to over 750 clinicians.