The transaction will see Helium’s cutting-edge technology lead the HealthTech revolution in MEA. Helium is delivering on its strategy to expand in Africa first, and then expand more widely in emerging markets.
Lagos, Nigeria, 11 November 2021 – Helium Health (“Helium”), the leading healthcare technology provider in Africa, is delighted to announce it has completed the acquisition of Meddy Inc., the GCC-based doctor booking platform, which has operations in Qatar and the U.A.E.
Helium is building the digital infrastructure to power world-class healthcare services, across Africa and the Middle East. The transaction is in line with Helium’s strategy to expand in Africa first – where the company is present in Nigeria, Ghana, Liberia, Senegal, Kenya, and Uganda and then move into wider emerging markets.
Healthcare in the GCC is set to grow rapidly. Investment in digital infrastructure will account for 30 percent of healthcare investment in the region between 2023 to 2030.
Meddy’s platform and outstanding management team complement Helium’s business model and ideally positions Helium to service the GCC healthcare market. Meddy’s Chief Executive Officer–Haris Aghadi and Chief Operating Officer–Abed Alkarim Khattab will join Helium’s leadership team and play integral roles in Helium’s execution of its GCC strategy and operations.
The transaction, led by Chrysalis Capital, will see Helium deploy its Electronic Medical Records (EMR) technology and healthcare financial solutions across the GCC healthcare market. Whilst the GCC’s healthcare market is more mature than Africa’s and has a higher technology penetration, the technology present in the region is more siloed. All regional stakeholders will benefit from Helium’s robust and interconnected suite of Digital Health products.
These products include healthcare provider management (via Helium EMR), patient-provider and revenue cycle management platforms (via HeliumDoc), and data analytics services.
Adegoke Olubusi, Chief Executive Officer of Helium Health, said:
“We are delighted to complete this transaction which is perfect for Helium Health. Our business model has primarily been robust organic growth, but we always remain open to strategic acquisition opportunities. Meddy is an ideal complement to our existing business model; the right company, in the right location, at the right time.
“We will be leading the HealthTech revolution in MEA. In Qatar, UAE and KSA, a great market opportunity exists to work with care providers to improve patient interaction, make healthcare data more interoperable, and to improve revenue cycle management. I am excited to welcome Haris and his team to the Helium Health family and look forward to many years of fruitful collaboration.”
Haris Aghadi, Chief Executive Officer of Meddy Inc., commented:
“Joining Helium is a perfect next chapter for Meddy as it enhances our mission to help patients make informed health decisions. Our goal has always been to provide technology to all the stakeholders across the value chain and joining forces gets us there faster.
“There is a strong synergy between our products, teams and markets. Combining Meddy’s marketing solutions with Helium’s clinical solutions will add tremendous value to our customers and transform healthcare in the Middle East and Africa.”
Founded in 2016, Helium uses proprietary technology and data to empower healthcare providers to make better decisions, operate more efficiently, and improve patient outcomes. Wider healthcare stakeholders also benefit from Helium’s data-driven insights, leading to optimum resource allocation and oversight.
Helium has grown rapidly to date in Africa, solving the continent’s problems of fragmented markets, paper-based systems and unreliable data. It has signed 500+ healthcare facilities, 7,000+ medical professionals and facilitates 300,000+ patient visits each month. Helium’s customers also include the most reputable private & public healthcare institutions in West Africa.
Helium is led by a brilliant and talented management team with many years of combined experience in technology and healthcare. Chief Executive Officer and co-founder, Goke Olubusi, formerly of Goldman Sachs, is one of Africa’s most innovative entrepreneurs and has received multiple awards from the likes of Chevron, Northrop Grumman, Maryland State, Lockheed Martin and others.
Helium’s co-founders include Dimeji Sofowora – Chief Financial Officer, and formerly of Goldman Sachs, and Tito Ovia – Head of Public Sector Growth, who has assisted organizations such as Orbis and Lagos State AIDS Control Agency to help people access better quality healthcare.