- Local digital healthcare marketplace RecoMed has attracted the funding of Japanese pharmaceutical firm Eisai.
- While the value of the investment is unknown at this stage, RecoMed says this latest funding round was its biggest yet.
- The funding will be used to expand the business particularly in the oncology and neurology fields.
On the back of a 150 percent increase in revenue, local digital healthcare marketplace, RecoMed has announced a sizable investment from Japanese pharmaceutical firm Eisai.
While RecoMed didn’t disclose the full value of the investment, a press release sent to Hypertext described this latest round of funding as its largest to date. The funding will be used to grow RecoMed’s platform, especially in the areas of oncology and neurology.
“Eisai have recently entered the African market and have a very clear vision around the value of digital platforms that provide people with easy access to healthcare which aligns with our own,” says Sheraan Amod, founder and chief executive officer of RecoMed.
“The investment will be used to enhance our technology, drive awareness of the platform and build a more robust digital healthcare journey for patients. We are deeply committed to improving the patient treatment journey and overall outcomes across a range of diseases and, with our initial focus on breast cancer, we are firmly on the road to achieving this goal.”
As you may be aware, RecoMed’s platform seeks to eliminate friction from a person’s healthcare journey. This includes helping one find doctors in their area and even having prescriptions filled and delivered to your home. The platform can also be white-labeled by enterprise customers. Firms that have adopted the platform include Discovery Health, Discovery Vitality, Momentum Health, Old Mutual, Dis-Chem, and Medicross.
The firm claims that with Eisai’s investment, it will be the first digital connection to care platform to address breast cancer. This is especially important given that breast cancer cases are increasing around the world.
“We engaged with RecoMed as they align with our goal to use digital platforms and technologies in order to streamline the entire patient journey, thus ultimately alleviating people’s anxiety over health and reducing health disparities,” says Shin Ujiie, Vice President of Corporate Strategy at Eisai.
“Healthcare is complex and therefore can be difficult to access and we have sought to change this narrative, making health an easily-accessible priority for everyone. RecoMed has proven themselves as leaders in this space and their innovative approach to digital health service makes them the perfect partner on our journey.”
Currently available in Cape Town. Pretoria, Johannesburg and Durban. RecoMed is surely going to enjoy further growth on the back of this announcement, especially if it’s looking at expanding its capabilities to include oncology and neurology.
Not only does RecoMed help patients but it can also help health practitioners find new patients. The RecoMed platform also integrates with practice management applications.
To find out more about RecoMed, head to the official website.
