Egyptian health-tech business Almouneer wants to change diabetes and obesity care. Seed funding of $3.6 million has helped the firm address this rising challenge.
The seed funding round was led by Dubai-based Global Ventures and included international investors like Proparco, Digital Africa via the Bridge Fund, Wrightwood Investments (the U.K. family office of Diane & Henry Engelhardt), and others.
Almouneer plans to use the funding to create and expand DRU, the “first patient-centric, digitally-enabled lifestyle and diabetes management platform in the Middle East and Africa.” This platform helps prevent and manage diabetes, prediabetes, and obesity by connecting patients and clinicians with an extensive healthcare provider network through its user-friendly app.
Diabetes affects 20% of Egyptian individuals and 30% in Saudi Arabia. Nigeria has 1 in 17 persons with diabetes, while prediabetes and obesity are significantly more common.
Almouneer co-founder and CEO Noha Khater told reporters that the seed investment will help recruit top personnel. It is seeking product expansion into neighboring African and Middle Eastern markets. The healthcare organisation will focus on Saudi Arabia, UAE, Nigeria, and Kenya next year.
Capital investment accompanies Almouneer’s expansion. Currently, this Giza-based firm treats over 120,000 patients at nine Egyptian hospitals and clinics. According to Khater, the health tech’s company volumes and income doubled last year.
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Optometry to diabetes
The technology-driven ophthalmology clinic collaboration Almouneer was created by Noha Khater in 2017. Her ophthalmology and medical practice experience led her to create the organization.
US healthcare amazed Khater during her early 2000s training. Easy access to complete medical data and good provider communication stood out. Her meticulous documentation of even routine medical procedures left an indelible mark.
The majority of retina specialists’ patients were diabetics. Chronic illness can be terrible. Several people have lifelong diabetes. Khater said people seek comfort due to ups and downs.
“Whether connecting with the doctor, asking questions, or checking your data or medical records. This service did not exist and was significantly fractured in Egypt. Most diabetics and chronic patients lose data due to various providers. All this in your pocket was missed. This affects about 110 million Egyptians.”
Healthcare management transformation
Prioritizing diabetic and chronic illness patients over tech-enabled ophthalmology clinics, Almouneer altered priorities. In addition, the company switched from in-house digital clinics to assisting external doctors and healthcare providers. Today, practice management software includes financial administration, electronic medical records, and booking.
Their patient-focused app, DRU, accompanied this change. DRU lets patients easily submit medical records, including blood sugar and blood pressure.
The app provides access to their newest medical data and medication details and helps doctors review them. This subscription-based service also allows patients to chat or call healthcare specialists for teleconsultation, bridging the gap between practitioners and patients.
We have numerous African and Middle Eastern patients who travel to Egypt for treatment for two reasons, says the CEO. Reasons include the region’s medical skill and price. The most significant problem for patients returning home following treatment is maintaining communication with their doctors or healthcare providers.
Almouneer’s Ecosystem expansion and patient plans
Khater said the health tech company wants to boost its services. This six-year-old health tech will introduce patient-specific treatment and diet recommendations in the coming months. Personalized strategies to improve blood pressure and sugar levels for uncontrolled diabetes and obesity will be available to patients.
It makes money from membership and custom plans. As well as medical referral fees, it makes money and is ready to add marketplace income. There are diabetes monitors, blood sugar strips, supplies for caring for the limbs, and food plans in this market for patients.
The original funding that was just received will also help get the word out about the DRU app. Wellness coaches, nutritionists, doctors, and labs will become part of the provider community. Within the first quarter of 2024, the DRU app for doctors will be made available.
Almouneer’s goal to be with diabetics in the Middle East and Africa for life was praised by Noor Sweid, founder and managing partner of Global Ventures. The business was what she called a “one-of-a-kind and vital solution” to a health problem in the area.