RecoMed, a South African health technology firm, has successfully procured an undisclosed amount of funding from Eisai, a Japanese pharmaceutical company. According to an official statement issued, this round of financing is the largest RecoMed has received thus far.
RecoMed functions as an online healthcare marketplace and booking platform. It serves as a connecting bridge between healthcare practitioners, patients, and other key players in the healthcare sector. The company reportedly handles over 100,000 bookings every month.
The statement also reveals that the newly secured investment will be directed towards enhancing the digital patient healthcare journey. This venture will concentrate predominantly on crucial healthcare sectors, including oncology and neurology.
Furthermore, the funding is expected to propel RecoMed to become the pioneer in digital connection to care platforms addressing breast cancer, as per the statement.
RecoMed’s CEO and founder, Sheraan Amod, stated in a recent interview that the investment from Eisai – a company that recently entered the African market with a clear objective to simplify access to healthcare using digital platforms – is in line with their own vision. The investment will be used to bolster their technology, drive platform awareness, and fortify the digital healthcare journey for patients.
“At RecoMed, we are dedicated to enhancing the patient treatment route and overall outcomes across various diseases. With our current focus on breast cancer, we are well on our way to achieving this aim,” Amod said.
Eisai’s Vice-president for Corporate Strategy, Shin Ujiie, noted that RecoMed was chosen for investment due to their alignment with Eisai’s goal of utilizing digital platforms to simplify the patient journey. He emphasized their aspiration to change the complexity of healthcare access and remarked how RecoMed has established itself as a frontrunner in this field.
RecoMed collaborates with a variety of healthcare entities, including pharmacies, clinics, primary care, and hospital groups. This extensive network enables practitioners, working in partnership with medical aids, insurance companies, pharma firms, and other organizations, to reach a wider patient pool.
Enterprises have the option to use RecoMed’s white-label services for scheduling appointments and telehealth consultations. The health tech firm also offers an e-pharmacy service where patients can upload prescriptions and choose between picking them up from a participating pharmacy or having them delivered.
Amod further mentioned that the funding from Eisai will aid in enhancing patient access to healthcare services by reducing service booking times. He added that by simplifying patient care, they are facilitating a healthcare spend of more than R500 million annually for their over 1.5 million users.
