Tech-forward healthcare company, operating in Kenya, Ghana, and Nigeria, Carepoint, formerly Africa Health Holdings (AHH), has raised a $10 million Series B bridge round to make healthcare accessible across Africa, with total funding raised by the healthtech company reaching $30 million.
CarePoint seeks expansion beyond its current reach to North and East Africa, accelerating its growth driven by mergers and acquisitions. In line with this, the startup is setting up telemedicine centers in its facilities and building micro-tech-enabled clinics.
The round was led by TRB Advisors. New and existing investors included Delle, Breyer Capital, Beyond Capital Ventures (BVC), M3, Inc, Asia Pacific Land/ Natural World Limited, and Alan Waxman, CEO of Sixth Street Partners.
According to the startup, the micro-clinics will have, at most, 12 employees, including a nurse and patients will be able to consult doctors virtually. The goal is to bridge the gap between Africans and adequate healthcare despite the growing internet connectivity.
The company’s brands include Lily Hospitals, Meridian Health Group in Kenya, Rabito Clinic Limited in Ghana, CarePoint Hospitals in Nigeria, and MyCareMobile in Ghana.
This virtual access will be through CarePoint’s MyCareMobile app, where users will be linked to diverse services through teleconferencing, including consultations with their doctors, test results and 24-hour emergency response.
CarePoint is creating solutions through its three core pillars of a scaled network of healthcare facilities, a strong technology backbone, and patient-centred care highlighted by the first Africa-focused healthcare data repository.
In November 2021, CarePoint raised $18 million in a Series A round led by Asia Pacific Land and Natural World Limited, with participation from investors such as TRB Advisors, Breyer Capital, M3, Inc., Valiant Capital, Kepple Ventures and SUNU Capital.
The capital was targeted towards the expansion of its telemedicine service going beyond Ghana, to Nigeria and Kenya, increasing its portfolio beyond in-person visits and allowing electronic follow-ups through its mobile app.