A healthtech startup that develops solutions to make Africa’s pharmaceutical sector more efficient Remedial Health, has raised $1 million in pre-seed funding to roll out its digital procurement and Patient Medication Records (PMR) platforms. making it easier for Africans to have access to affordable and authentic retail medicines.
Starting in Nigeria, Remedial Health is delivering technology solutions that enable greater efficiency and profitability in Africa’s pharmaceutical sector and supporting the development of a tech-enabled, pharmacy-centred healthcare network across the continent.
It already has operations in six states across Nigeria and is connected to more than 100 pharmaceutical manufacturers and suppliers.
The pre-seed funding round which was led by Global Ventures and Ventures Platform, with participation from Ingressive Capital, Voltron Capital, and angel investment from Flutterwave, among others, will support the expansion into more states in Nigeria to empower more pharmacies and Proprietary Patent Medicine Vendors (PPMVs) as the frontline of healthcare in more states across Nigeria.
The CEO and co-founder, Remedial Health, Samuel Okwuada, said the ongoing global pandemic has brought the importance of healthcare to the fore and Remedial Health strongly believe that these businesses can play a key role in safeguarding lives and livelihoods across the continent for years to come.
Okwuada disclosed, in a statement, that pharmacies and PPMVs have been the frontline of healthcare in Nigeria for many years, adding that Remedial Health is excited to have raised these funds to connect them more effectively to manufacturers and ensure that their data is reflected more accurately in decision making across the pharmaceutical value chain.
Principal at Global Ventures, Sacha Haider said: “we are delighted to be partnering with Remedial Health to address some of the challenges impacting access to healthcare on the continent. There is huge scope for growth for Remedial Health not only in Nigeria’s pharmaceutical industry but also across the African continent.
We look forward to support Samuel and the team on their mission to build a tech-enabled, pharmacy-centred healthcare network across Africa.”Using Remedial Health’s digital procurement platform, pharmacies and PPMVs can source all the medicines, consumables and small medical devices for their practice via a mobile app or mobile responsive web store at open air medicine market prices and have them delivered within 24 hours.
All products are vetted before distribution to verify their authenticity and Buy-Now-Pay-Later options are also available to enable store owners stock up and maximize the sales opportunities available to them. They only pay after stock has been dispensed to customers.