Digital health care continues to grow globally following last year’s epidemic, but venture capital flows are regionally lagging behind the rest of the world.
H.However, investors have invested more than $ 77 million in 56 agreements last year, focusing on some new health technologies. Egypt is one of the brightest places on the continent and a major contributor to MENA’s market value of health technology. It is expected to the Up to $ 2 billion In 2024.
As companies such as Veseta, Chefa, and Yodawai prosper while offering telemedicine, diagnostic and pharmaceutical products, new companies are looking to make a name for themselves in a variety of sectors.
It is one of them. Bypa-SIt is a health technology company that deals with health information exchange.. Today, the company is announcing that it has raised $ 1 million from the pre-seed fund as investors. Magic Fund, Acuity Ventures, Launch Africa, Plug and Play, and other regional and external VCs.
The organization Founded by the CEO Andrew Sad 2019 While Saad was a medical student, an elderly woman became ill and found a woman in need of treatment.. Normally, Hospitals will administer medication after conducting some tests and citing the patient’s medical history. Neither the hospital nor the woman had a medical history at the time. As a result, there was a lot of confusion Medicine or not.
Sad told Tech Crunch that he had experienced similar situations with other patients. He has done some academic research Regarding Basic patient information and electronic health records that are the basis for starting bypa-ss.
The company started in Shebin El Com Menopia before moving to five other cities in Egypt last year.. The main product of Bypa-ss It is called HealthTag And provides ecological services for hospitals, physicians and patients.
For hospitals and physicians, HealthTag collects medical information from a variety of health care providers and provides an integrated system for clinical management to monitor the cases of patients stored by BPA-S.
For users, HealthTag works as a mobile app and physical card. With the app and the card, patients have the right to own their health records in one place and pay for medical services online. When you pay out of pocket, you can get 70% off prescriptions, laboratory tests and health care providers in Egypt.
For the first time in Egypt and North Africa, we will be able to share personal health information with doctors and healthcare providers, allowing patients to share digital health information. Press release.
The pre-race phase will arm Bypa-ss with weapons to expand the network of more than 3,000 health care providers. According to customers, Saad has increased by 150% since the beginning of the year. And when Bypa-ss 2021 started with six employees, the company grew fivefold.
before The pre-race round raised $ 1 million, and BPA-S raised $ 150,000 around the angel, bringing the company’s total investment to $ 1.15 million.. “We are so excited to invest in Bipa-S! Andrew and his team are confident that they will build a future health information infrastructure in Egypt, and we are happy to be a part of this.Plug and Play said in the statement.
Bypa-ss uses the investment to the Accelerate It is growing in Egypt, the CEO said. “Once this investment is in place, we will be able to use more features for our customers while maintaining our level of service and growth. The company also intends to use the money for expansion fuel, which is a perfect high-tech mobile app Optimization The exchange of information between stakeholders at different levels and sizes and the rapid growth of the company will be further utilized.