Remote consults with certified doctors

14 november 2022

This is a telemedicine company that has developed a platform to help patients get consults from doctors remotely through voice and video. What differentiates this platform from other telemedicine companies is that this company has found a novel way to measure vital signs remotely using the same smart devices patients use to consult. This can be done with an accuracy between 95% and 99%. These devices are normal smartphones, tablets or computers. This means that patients do not need to be in a particular physical location in order to consult with doctors.

The problem that this startup is addressing is access to qualified doctors and other healthcare workers. The basic platform has been developed and it is working. This company is based in Johannesburg, South Africa. In South Africa there is an acute shortage of qualified doctors who practice their job in rural and semi-rural areas which exacerbate the problem. This problem is repeated in most African countries as well as developing countries. The problem is more pronounced in South Africa as the country also has to carry the load from surrounding countries.

The team currently has just over 60 users who found the service without any publicity or marketing. The users have registered but have not started using the service. People are registering with the knowledge that the service will be available immediately when they need it. This means that this proposition resonates with the potential clients / users.

The market size in South Africa is 48 million people. In the African Continent if over 400 million people. This company was established on the 13th of May 2020.

The connection to the Netherlands of this company is two fold.

1. The owner used to teach at Accenture School of Excellence in Veldhoven.

2. Dutch investors tend to be early adopters of technologies. Therefore they can help this company with implementing the business case in South Africa.

Business model:

The business model is on-demand, pay-per-use.

Type klant:

B2B & B2C

Gewenst type investeerder:

Venture Capitalist, Private Equity, Strategische investeerder

USP’s:

This platform has the ability to measure vital signs remotely within 1 minute. It works with 19 vital signs and no one at the moment is able to do this.

Benodigd kapitaal:

€5.000.000,-

Investeringsbehoefte:

  • Clinical trials: €800.000,-
  • Operations: €2.200.000,-
  • Marketing: €300.000,-
  • Further developments and enhancements: €950.000,-
  • Salaries: €750.000,-

Sector:

B2C Software, Health, AI

Bedrijfsfase:

Seed

Aantal founders:

2

Aantal huidige werknemers:

3

Ervaring founders:

The founders have worked in the IT and healthcare space for many years. They have started and operated successful companies. They have governance experience as well having only served on boards but also ran boards of companies in different industries

Maandelijkse omzet:

€0,-

Omzet (prognose) komende 12 maanden:

€207.460,-

Omzet (prognose) maand 13-24:

€2.627.520,-

Huidige maandelijkse kosten:

€10.500,-

Overige relevante informatie:

No third-party funding so far. The founders have invested just over 800.000 euros

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