Private equity firm Alta Semper Capital has provided a financing injection of twenty million dollars to the e-health business MyDawa, which is based in Kenya. The allocation of this capital is a significant step in reorganizing the structure of the healthcare sector as a whole. MyDawa hopes to one day become an all-encompassing health platform, and the injection of capital will make it possible for the company to strengthen its existing products and expand its geographic reach, both of which are important steps toward achieving this goal. Because of this significant investment, Alta Semper Capital is launching its operations in the digital healthcare market in Africa for the very first time. This decision was made by the company after taking into consideration the immense growth potential that the industry possesses over the course of the following several years.
The online pharmacy that would later be known as MyDawa got its start in business in the same year that it was founded, in 2016. On the other hand, the idea behind the organization quickly expanded to include a technique of administering medical care that was more comprehensive. At the moment, MyDawa is capable of providing in-person and online consultations, in addition to laboratory services and a network of walk-in pharmacies and health centers. Through the development of the company’s service offerings, MyDawa intends to accomplish its mission of providing its clients with a healthcare experience that is streamlined and organized.
MyDawa has entered into agreements and formed partnerships with a number of different clinic chains in Kenya, making it simpler for those clinic chains to expand their operations. Because of this, MyDawa is able to further solidify its position as the preeminent health platform. Deals have already been reached by the company with some of the most reputable clinic chains in the country. These clinics will now be able to increase their customer base and benefit from the state-of-the-art technology infrastructure provided by MyDawa as a result of these deals. MyDawa’s presence in the market has been bolstered as a direct result of this growth, which also makes it simpler for other businesses in the healthcare sector to expand their operations and enhance the quality of the services they offer to customers.
In order to go forward with its expansion goals, MyDawa recently finished the acquisition of Guardian Health, a well-known healthcare provider in Uganda. MyDawa has been steadily working toward expanding its business beyond the borders of Kenya, and this acquisition represents a significant step in that direction. MyDawa plans to build a strong regional presence and accelerate its expansion by carefully acquiring established companies in countries that are contiguous to the nations in which it now conducts business. MyDawa’s long-term objective is to emerge as the dominant force in the African healthcare industry, and the company believes that the acquisition of Guardian Health is an excellent first step toward realizing this objective.
Priscilla Muhiu has been selected by MyDawa to take on the post of Chief Executive Officer so that she may assist the company in achieving its lofty goals regarding global expansion. Muhiu’s extensive prior experience in the medical field makes her an excellent candidate to steer MyDawa towards its next stage of development. This is due to the fact that Muhiu possesses all of the necessary qualifications. She was able to put to good use the enormous expertise and experience of the African market that Muhiu gained through her previous role as head of Glovo Kenya, which she had previously. Her leadership, in conjunction with MyDawa’s pioneering service offerings, lays the groundwork for the company to achieve both rapid expansion and sustained success.
MyDawa has made significant strides toward its objective of being an all-encompassing health platform thanks to the strategic financial arrangements that it has signed along the way. When the AAIC made a contribution of $3 million to the company in 2019, the Africa Healthcare Fund was a crucial component in the company’s ability to support its growth initiatives. In addition, the Bill and Melinda Gates Foundation provided MyDawa with a grant in the amount of $1.2 million to be used for the purpose of increasing access to a medicine that is known as pre-exposure prophylaxis (PrEP), which is a strategy for decreasing the likelihood of developing HIV or AIDS. This funding will be used to extend access to PrEP. These new injections of capital have not only acted as a vote of confidence in the future of MyDawa, but they have also made it feasible for the firm to make significant progress toward the aim of increasing access to medical care. This expansion of access to medical care is the primary objective of the company.
Because of the recent $20 million investment that it made, Alta Semper Capital has emerged as an essential strategic partner for MyDawa’s expansion objectives. This is due to the fact that Alta Semper Capital made the investment. The private equity fund highlighted that the cutting-edge technology, scalable business model, regulatory expertise, and market entry experience that MyDawa provides are essential components that are in line with the fund’s own strategy. MyDawa is dedicated to improving health outcomes and expanding access to medication that is both safe and affordable. This mission is congruent with Alta Semper Capital’s goal of democratizing access to health and wellbeing across the African continent, which MyDawa is working toward. The purpose of the collaboration is to make the most of the substantial commercial opportunities that will be presented by Africa’s anticipated consumer spending of $2.1 trillion by the year 2025. This spending is estimated to come from individual consumers across the continent.
As MyDawa continues to explore new possibilities for expansion and innovation, artificial intelligence (AI) will play a significant role in defining the path the firm will take into the future. The utilization of AI within the platform that is utilized by MyDawa will make it feasible to deliver personalised healthcare recommendations, in addition to more efficient data processing and improved patient outcomes. MyDawa’s goal is to revolutionize the healthcare industry by utilizing the capabilities of artificial intelligence (AI) in order to make it more user-friendly, cost-effective, and centered on the needs of the individual patient.
It is a key step in the company’s advancement toward its objective of being an all-encompassing health platform that Alta Semper Capital has just invested $20 million in MyDawa. This investment was made by Alta Semper Capital. MyDawa is well-positioned to revolutionize the landscape of healthcare not just in Kenya but also beyond the country’s boundaries as a result of its expanding range of services, strategic collaborations, and acquisitions. This is because MyDawa has been able to successfully acquire other companies and participate in strategic partnerships. By leveraging artificial intelligence (AI) and several other forms of cutting-edge technology, MyDawa hopes to accomplish its aim of improving health outcomes, promoting accessibility, and giving individuals the capacity to take responsibility for their own health and wellness. Therefore, the company is a force for positive change and influences the path that the healthcare industry in Africa will take in the future by strengthening its position as a major player in the digital healthcare field as it continues to expand further.
First reported on Tech Crunch