Almouneer, an Egyptian health-tech company, is on a mission to revolutionize healthcare for individuals dealing with diabetes and obesity. To address this growing crisis successfully, the startup has secured $3.6 million in seed funding.
Dubai-based Global Ventures led the seed funding round which also attracted participation from various international investors, including Proparco, Digital Africa via the Bridge Fund, Wrightwood Investments (the family office of Diane & Henry Engelhardt from the U.K.), and several other prominent international funds.
Almouneer has stated that the funds raised will be primarily channelled into supporting the development and expansion of DRU, a platform characterized as the “first patient-centric, digitally-enabled lifestyle and diabetes management platform in the Middle East and Africa.” This platform plays a role in diabetes, prediabetes, and obesity prevention and management by facilitating connections between patients and doctors, along with an extensive network of healthcare providers through its user-friendly app.
Specifically, in Egypt, diabetes affects 20% of adults, while in Saudi Arabia, the figure stands at 30%. Nigeria faces a diabetes rate of 1 in 17 adults, and the challenges of prediabetes and obesity are even more widespread.
Co-founder and CEO Noha Khater shared with TechCrunch that the seed investment will assist in attracting top talents to join Almouneer. Also, it is exploring potential product expansion into neighbouring markets across Africa and the Middle East. Saudi Arabia, the UAE, Nigeria, and Kenya are top of mind for the healthcare company next year.
The injection of capital follows a period of growth for Almouneer. This Giza-based startup currently serves a network of nine hospitals and clinics in Egypt, providing care to over 120,000 patients. According to Khater, the health tech has experienced a doubling of its business volumes and revenue figures over the past year.
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From ophthalmology to diabetic care
In 2017, Noha Khater embarked on the journey of launching Almouneer, initially establishing it as a group of technology-driven clinics primarily specializing in ophthalmology. She revealed that her motivation for establishing the company stemmed from her personal experiences as an ophthalmologist and practising physician.
During her training in the United States in the early 2000s, Khater was deeply impressed by the exceptional quality of healthcare services. What stood out most was the easy accessibility to comprehensive medical data for patients and the exceptional communication they had with their healthcare providers. The meticulous documentation of even the most routine medical procedures left an indelible mark on her.
“Most of my patients were diabetics, even as a retina specialist. And as you know, the journey of a chronic patient can be harrowing. Diabetes is a disease a large number of people have for life. And with many having ups and downs, there’s always a need for reassurance,” said Khater.
She added, “Whether in terms of connecting with the doctor, asking a question, or making sure that your data or medical records are fine. So, it was obvious that this kind of service did not exist and was very fragmented in Egypt. A typical diabetic or chronic patient would have several doctors dealing with them in different places and lose their data. So, having all this in one place in your pocket was something that was missing. In Egypt, we have gone almost 110 million; you can imagine how many people this problem affects.”
Transforming healthcare management
The transition from tech-enabled ophthalmology clinics to an expanded focus on serving diabetes and chronic disease patients marked a turning point for Almouneer. Alongside this shift, the company evolved from managing in-house digital clinics to providing essential operational support for external doctors and healthcare providers. The company now deploys a comprehensive practice management software system, encompassing financial management, electronic medical records, and a booking system, all seamlessly integrated.
This transformation was complemented by the introduction of their patient-centric app, DRU. With DRU, patients can effortlessly upload their medical records, including critical health metrics such as blood sugar and blood pressure.
The app ensures access to their latest medical data and current medication details, while also facilitating doctors in reviewing these records. Furthermore, this subscription-based app extends teleconsultation options, enabling patients to connect with healthcare professionals through chat or phone, thus bridging the gap between healthcare providers and patients.
According to the CEO, “We have many patients from Africa and the Middle East that come to Egypt for treatment because of two things. One is the good medical expertise here in the region—two, because of its affordability. So one of the biggest challenges when those patients go back home after getting treatment is that it’s hard to maintain contact with the doctors or healthcare provider”.
Almouneer’s patient plans and ecosystem expansion
The health technology company is set on expanding and enriching its array of services, according to Khater. In the coming months, this health tech, now in its sixth year, intends to introduce patient-customized treatment and nutrition plans. Patients will have the option to subscribe to personalized plans specifically designed to address uncontrolled diabetes and obesity, with a focus on improving blood pressure and blood sugar levels.
The company generates its revenues through subscriptions and individualized plans. It also derives a portion of its income from fees charged to doctors for referrals and is poised to add marketplace revenue to its portfolio. This marketplace will facilitate connections between patients and essential consumables like glucose monitors, blood sugar strips, extremity care products, and nutrition plans.
Simultaneously, the recently secured seed investment will play a role in promoting the adoption of the recently launched DRU app. It will also expand the provider ecosystem to include doctors, health coaches, labs, and nutritionists. A development on the horizon is the planned launch of the DRU app for doctors in the first quarter of 2024.
“Noor Sweid, Founder and Managing Partner of Global Ventures expressed enthusiasm about Almouneer’s mission to serve as the lifelong companion of diabetic patients in the Middle East and Africa. She praised the company as a unique and essential innovation, highlighting its commitment to addressing a prevalent health issue across the region.”
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