Two health care clinics in Texas and Nigeria have partnered to develop an innovative drug delivery system. According to the CEO of one of the clinics, the partnership will help patients to obtain a faster and more efficient diagnosis. He says the new technology will save patients and medical professionals time and money.
Telemedicine platform
Reliance Health is a digital healthcare company based in Lagos, Nigeria. It offers telemedicine and prescription delivery. The company works with third-party provider partners to deliver affordable health care. With its combination of proprietary and partner facilities, it has become one of the most popular digital health companies in emerging markets.
Reliance Health is working to expand its platform into other countries around the world. In January 2020, the company raised $6 million in a Series A funding round. Its products include eVisit, a physician-first telemedicine platform that allows secure 2-way HD video consultations and includes integrated ePrescribe and billing features.
eVisit requires a computer, a microphone, and a compatible mobile device. During an encounter, a patient can chat with their doctor, ask questions, and submit a medical record.
As with any new technology, telemedicine platforms are evolving. Most of the platforms today are cloud-based solutions. These are designed to document all remote patient visits, bill third-party payers, and allow for a variety of reporting features.
Drug delivery system
In January of this year, Nigerian startup Reliance Health made a splash with its $6 million series A round of funding. Along the way, the company managed to snag several more high-profile investors including the likes of Y Combinator, Ventures Platform, Golden Palm Investments, and Partech. Although the company will probably continue to operate out of its two Lagos clinics, it has plans to break out into other parts of Africa, and beyond. It has even recruited a country manager for Egypt.
The company has made no bones about its focus on digital health technology. This includes an online portal that allows users to manage their health and prescription medication from the comfort of their own home. The company also operates a number of third-party healthcare providers, enabling customers to receive care from doctors, nurses, and other health-related professionals across a variety of specialties. In the grand scheme of things, Reliance plans to enter at least two more markets by the end of the year.
Two clinics
Reliance Health is a company that has taken healthcare to the next level in emerging markets, leveraging technology and data science to offer affordable health insurance to some of the world’s leading companies. Their model includes an app that lets customers manage their drug deliveries. They also have a telemedicine platform that allows them to connect with physicians.
The company is led by General Atlantic, a US-based growth equity investor, and has been able to raise over $48 million to date. It has offices in Austin, Texas, and Lagos, Nigeria. With this round of investment, they’re planning to expand into two or three new countries before the end of the year.
To date, the company has been able to make a difference in the lives of over 200,000 individuals. In a market where hospitals have not been able to find a way to charge patients a reasonable amount, they’ve taken advantage of the latest technology to improve the customer experience.
Funding round
Reliance Health has secured a $40 million Series B round of funding led by General Atlantic. This is the largest venture capital investment for a Nigerian startup in 2019.
Since its founding in 2015, Reliance Health has grown into a leading digital health provider in emerging markets, offering affordable quality health care. Through its unique B2B and B2C business model, it partners with hospitals and third-party providers. To date, the company has impacted over 200,000 lives. The firm has also been recognized as one of Jobberman’s 2019 Top 100 Companies in Nigeria.
In addition to its investment in Reliance Health, General Atlantic has also provided strategic support for growing companies globally. It is the first technology investment for the firm in Africa.
Finally
The funding round also includes participation from Partech and Tencent Exploration. The firm intends to use the funds to expand its presence in emerging markets. Reliance will also continue to hire top talent to advance its product suite.
