Lagos based e-health startup, Helium Health Receives $10M in Series A funding

Helium health, a Nigerian e-health startup with its primary base in Lagos state, has raised a $10million Series A fund to further expand its service reach across the African clime

The startup, which already offers a range of services like; digitization of data, formalizing monetization and enabling telemedicine for health care systems in African countries like Nigeria, Liberia, and Ghana, seeks to expend its latest funding towards hiring and expanding to the Northern and Eastern region of Africa, specifically to countries like Kenya, Rwanda, Uganda, and Morocco, according to CEO, Adegoke Olubusi.

In 2016, CEO Adegoke Olubusi set out on a journey to bring significant transformation to health care systems in the African continent, together with Dimeji Sofowora and Tito Ovia. From Inception to date, Helium has maintained its focus on improving how records are being kept and refining the management of operations within the health sector. The newly acquired fund will help them to bolster their efforts and further achieve their aim.

Nigerian healthtech startup, Helium Health, raises $10m in Series ...
Co-Founders of Helium Health

The e-health startup is also in the process of growing its product collection beyond its existing offerings. Helium will be rolling out new sets of software products for healthcare providers and public health partners such as governments and donor agencies. The new product offerings will serve to; increase the efficiency of healthcare operations, improve the generation of revenue, enlarge health financing, monitor the health of the public, and consequently improve health results.

One of its new offerings is the MyHelium Patient app. This new application will allow citizens to book appointments and interface with healthcare providers without physical contact. This is a very essential service, considering the restrictions on movement and the need for individuals to maintain social distancing to keep safe.

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Helium also sped up its telemedicine platform launch in response to the coronavirus and ensuing lockdown. According to Olubusi, about 360 hospitals have signed up to the platform within the last three weeks since it launched, and thousands of online visits have been recorded since the time.

Other products offered by Helium Includes; Teleclinic, a platform that enables conventional hospitals (having no online presence) to have virtual/online visits with their patients; HeliumPay, a billing and payment solution; HeliumCareCredit, a financing product for healthcare providers; HeliumCover, an enrollee, tariff or claims management product; and the MyHelium Patient Super app, an app that provides assistance to healthcare facilities for the management, engagement, and retention of patients.

Olubusi believes that their portfolio products will help to improve the poor status of healthcare in Nigeria.

Nigeria is Africa’s largest economy and most populous nation but sadly, it ranked 142nd out of 195 countries based on health performance indicators in The Lancet’s 2018 Healthcare Access and Quality Index. This position Is a major cause for concern and according to Olabisi “We need more properly run hospitals, and we need more profitable hospitals, health systems and health care providers.”

In spite of the current economic crisis witnessed in Nigeria and beyond, Olubusi is quite confident that Helium Health will experience growth this year. This, he says is because of the torch of scrutiny that has been beamed towards Inadequate healthcare since the wake of the coronavirus. He hopes that since our flaws in this regard have been made open, people will be able to rethink and focus on what is more important -improving healthcare in the country – and this, in turn, would lead to more business for Helium Health.

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