MDaaS raises $3 million to improve access to healthcare and expand network across Nigeria

Madas Internationala Nigerian health technology company that operates a network of technology-enabled diagnostic centers across the country, has secured $3 million in pre-Series A funding.

The round was led by Aruwa Capital and Newton Partners, the latter of which was the lead investor in the health tech’s $2.3 million seed expansion in 2021. MDaaS also received follow-on capital from Ventures Platform, bringing its total investment to $6.8 million.

According to its statement, MDaaS will use the investment to launch BeaconOS, the proprietary technology platform it launched last year. The seven-year-old health technology company also plans to expand its healthcare network to cover all Nigerian states through a host of company-owned and affiliated clinics.

Access to healthcare in Nigeria and throughout Africa remains a major challenge. Although some services are available, people tend to give priority to treating diseases rather than preventing them. As a result, life-threatening diseases, especially non-communicable diseases, are often not detected until later stages. Improving access to diagnosis and preventive care, an area in which MDaaS has gained recognition, is essential in addressing this healthcare challenge.

Since our previous coverage a few years ago, the startup has significantly expanded its operations, with a current network of 17 diagnostic centers in 10 states. Looking to the future, MDaaS plans to build an additional 23 centers in the coming years. Founded in 2017 by CEO Oluwasoga Oni, Opeyemi Ologun And Genevieve OnyMDaaS offers a range of services at its diagnostic centers, including imaging such as digital x-rays and ultrasound, cardiac services such as ECG and echo, and various laboratory services including chemical analysis, immunoassay and hematology.

Patients access these facilities through the platform’s SentinelX app, which acts as a personal care program that allows them to pay a one-time fee for annual access to a doctor. Originally designed as a customer-focused product, MDaaS has adapted SentinelX to further meet the needs of businesses.

“Although SentinelX has not performed well as a B2C product, it has been very successful as a B2B product. We are now focusing on serving companies and conducting annual screenings for their employees,” CEO Onni explained in an interview with TechCrunch. “We have also integrated pre-screening Employment and government-mandated examinations, which have become an important source of income along with individual clients visiting our hospitals for examinations.”

BeaconOS and the Integrated Care Network are pivotal to MDaaS operations and growth in Nigeria.

As the operating system for its MDaaS diagnostic facilities, BeaconOS provides the company with visibility into the day-to-day operations of its centers, making it easier to manage patient visits and clinical outcomes for its teams. On the other hand, the MDaaS Care Network includes collaboration with more than 1,300 referring physicians across more than 1,000 organizations, including hospitals, pharmacies, health technology startups, partner companies, and 34 HMO organizations.

Since its inception, MDaaS has provided care to more than 275,000 patients, leveraging the integrated care network and capabilities of BeaconOS. Last year alone, health technology served 108,724 patients, with women making up 60.8% of the total. Additionally, MDaaS has performed more than 240,000 diagnostic tests, with chest x-rays, urinalysis, and complete blood counts among the top three procedures performed.

“We tend to screen a lot of people who work with companies, and what we see is that there are really high levels of hypertension in the country,” Oni said, highlighting some of the most common diagnoses on the platform. “We’re seeing that a lot of workers are suffering from lifestyle and non-communicable diseases like cancer, high blood pressure and diabetes. The roots of that kind of thing are really on the rise, and we can see that in our data points and help them get the care they need.”

To facilitate communication between diagnostic centers and customers, MDaaS has rolled out Olewerk to help improve diagnostic workflows and Beam to help partners manage the occupational health of their teams. With the new investment, MDaaS intends to develop new applications on the BeaconOS platform, including a satellite clinic portal for real-time patient referrals and results management, integration with HMOs to streamline licensing processes and the development of a patient-facing app for booking appointments. Access to results and health insurance management.

“We are thrilled to partner with MDaaS Global in their mission to revolutionize healthcare delivery in Africa. MDaaS’s track record of continued and impressive growth, as well as their dedication to delivering high-quality diagnostics for patients with High needs, resonated deeply with us.

“As gender investors, we are particularly excited to back a company that is driving change for women across Nigeria – more than 60% of BeaconHealth patients are women, most of them of reproductive age – and MDaaS shares our commitment to building gender-diverse teams.”