As mentioned earlier, the healthcare company is looking to change the face of traditional healthcare where hospitals are burdened with excessive demand. This leads to the shortage or strain on bed capacity and effective patient treatment and outcome is hindered. More than 80 percent of South Africa’s population, particularly the Black urban and rural poor, depending on the country’s underfunded and understaffed public health system, Quro plans to change this.

The company was founded in 2018 by Dr. Vuyane Mhlomi(CEO), Zikho Pali, and Rob Cornish. Mhlomi understood that it’s imperative to innovate South Africa’s healthcare from his own experience and decided to bring changes needed. It is a known fact that hospitals in Africa experience excessive demands. Mhlomi also mentioned that he has witnessed his parents suffer from chronic health ailments and had to wait for hours in a clinic before they could meet a medical professional.

Mhlomi told the media, “We were connected by our belief that the private healthcare sector can and should be doing more to shoulder the burden of healthcare provision in this country and on the continent generally. These escalating costs are the primary barrier to accessing healthcare in the private sector, leaving an overwhelming burden on our public health system.”

Quro medical works with 150 doctors, and Mhlomi believes that his company is the first one in Africa to accelerate its hospital-at-home services and scale its operations across the country.

Image credits- Quro Medical

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According to local media reports, Guidepost, which also provides insurance digitally, will use the funds to develop its clinical technology and at the same time expand its business both domestically and globally.

With the investment, AlphaCode will acquire a 25.1 percent stake in the South African healthtech startup Guidepost.

Guidepost, through its platform, helps its customers in South Africa to better manage their diabetes risk with their highly personalised, data-driven diabetes management programme. Reportedly, the startup has achieved a 45 percent reduction in diabetes complications across more than 8,000 patients in the last six years.

Graham Rowe, chief executive officer and co-founder of Guidepost told the media, “We’re delighted to partner with AlphaCode and RMI as we grow our business. We already work with life insurers such as OUTsurance, innovative medical schemes such as CAMAF and pharmaceutical businesses such as Novo Nordisk. “

He added, “The heart of our business is a network of caring diabetes coaches empowered by our technology. We look forward to supporting our coaches and patients even better with RMI’s involvement.”

According to AlphaCode, people with diabetes are expensive for both medical and life insurance companies. This is where Guidepost could step in. It can help customers better manage their diabetes risk and support them to achieve better health and at the same time solve the business problem for the insurers.

Recently, Nigeria-based fintech company Interswitch acquired 60 percent in e-Clat Healthcare, a Nigeria-based healthtech startup, in a bid to improve the healthcare sector across Africa.

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According to South Africa’s Competition Commission, the merger will not reduce competition in the market, but it will impact local manufacturers of pharmaceuticals for Pfizer.

The commission therefore suggested that for the next three years, the concerned parties use the services of Spechpharm Holdings, a local firm providing manufacturing and packaging services.

Last year, pharmaceutical giant GlaxoSmithKline announced its plan to merge its consumer healthcare business with that of Pfizer’s.

The new entity, of which GlaxoSmithKline would own 68 percent, will become the world’s biggest supplier of over-the-counter medicines with brands such as Advil, and Panadol, under its banner and sales worth £9.8 billion.

The remaining 32 percent stake would be owned by Pfizer.

GlaxoSmithKline’s plan is to create two UK-listed global companies. One will focus on the development of drugs while the other will focus on consumer healthcare.

However, within three years of the closing of the transaction, GlaxoSmithKline plans to separate the joint venture through a demerger of its equity interest. Then, the company will list GlaxoSmithKline Consumer Healthcare on the UK equity market.

Earlier, GlaxoSmithKline kicked off the sale of some consumer health brands as it seeks to raise about £1 billion. The drugmaker hired Greenhill, a boutique investment firm for the sale and created three different portfolios to be sold to different bidders.

Private equity funds including Advent and CVC Capital Partners are some of the bidders for these portfolios.

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