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Tibu Health is bringing world-class healthcare to Kenyan ...
Techpoint Africa
·
Jun 8, 2022
Unless you have a passion for medicine and healthcare, you probably wouldn't like visiting hospitals. Barring a few excep...
Problem
Africa has a devastating healthcare gap
Over 600 million people in Africa do not get the healthcare they need when they need it. On average people spend between 5 and 7 hours seeking basic health services. Healthcare services are impersonal, uncoordinated and costly. We fix that.
This has led to a 45% increase in long-term healthcare costs and a -5 Net Promoter Score for Healthcare in Africa. For patients with chronic conditions and with regular healthcare expenses, it is estimated that approximately 35% of the $500M spent on chronic disease management is entirely avoidable by reorganizing how healthcare services are delivered.
Solution
Technology enabled
healthcare for Africa
We connect patients to healthcare professionals and services in 2 minutes or less.
Patients easily schedule medical visits at home, through our virtual platform or in our ultra-modern clinics by using our web and mobile apps, or calling our experience teams.
We use technology to optimize the patient journey and keep people healthy and out of waiting rooms.
Product
Everyday healthcare across three platforms
Our approach bridges the physical and digital divide in health and coordinates care across our service delivery platforms at a time and location of the patient’s choosing.
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Comprehensive Technology Enabled Healthcare
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Traction
200+% YoY growth
Since launching our model in 2020, we have served Over 45,000 patients, carried out 20,000+ laboratory investigations, broken even 3 times and generated over $1.4M.
We are partnered with:
15 large local and global insurers to deliver healthcare services to their members
50 local healthcare providers who refer patients to TIBU Health for diagnostics, nursing or remote care through our virtual platform.
150+ SMEs for employee health and wellness (250K pipeline already for 2023).
Clients and partnerships
Customers
Personalizing the healthcare experience to save our patients time and money.
Our patients come to TIBU Health because they are tired of overpaying for impersonal healthcare services in congested clinical spaces.
Our model puts over 300 healthcare services at our patient’s fingertips and saves them as much as 8 hours.
We also serve over 100 of Kenya's largest businesses and corporates, including the United Nations, the World Bank and Government Embassies, to name a few.
Why patients love it
Business model
Multiple channels for growth with high margins
TIBU Health operates a B2B2C business model and enjoys up to 73% margins on services we deliver.
On the B2B front, we work with three main partners to lower our customer acquisition cost (<$10) and grow rapidly:
Health insurers (primary & urgent care; chronic disease management)
Healthcare facilities (on-demand diagnostics)
SMEs (employee health and wellness)
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A model with built-for-efficiency gains
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Market
A 40+ billion dollar healthcare experience opportunity
Healthcare remains one of the final
frontiers for innovation and improvement in Africa.
Competition
First-mover advantage for tech powered healthcare in Africa
Our biggest competitors are found in the US market by the likes of Carbon Health ($580M raised) and One Medical (acquired by Amazon for $3.9B). Given our deep sector knowledge, we see this as a potential acquisition pathway rather than a long-term competition threat should these players decide to enter African markets.
We do not have any primary competitors that offer services across multiple platforms (virtual, home, modern clinics) in Africa.
Indirect competitors focus on single verticals, i.e., virtual care, aggregation, scheduling, etc. None of our secondary competitors own services in house, but rather outsource to third party providers. This results in razor thin margins for them and an unclear pathway to scale and profitability.
Vision and strategy
Building Africa's fastest growing health technology company
Over the coming 12 months, will be expanding operations to two additional cities to reach an additional 50,000 patients and generate $2.5M in revenue.
By 2027, TIBU Health will have a presence in 6 African economies and generating over $25,000,000 annually.
We anticipate an acquisition through either:
A strategic investor (currently two on books)
Health technology company expanding into Africa (strategic acquisition)
Funding
A-list investors with Africa in their sights
We have raised over $2.5M from some of the world's most sophisticated venture capital firms.
Google
CFAO (Toyota Ventures)
Boost VC (Adam Drapers)
Netcare (Public)
Bluehaven Initiative (Pritzker Family Office)
Founders Factory
Verod Kepple Africa Ventures
An amazing group of angel investors.
Capital raised on republic will be used to:
Execute against our B2B pipeline (250K and growing)
Build one (1) additional clinic.
Sophisticate our virtual care platform
Unlock $2M in revenue and 50,000 patients
We are targeting a $7M Series-A equity/debt financing round at a $30M post-money valuation in Q4 of 2023 based on a multiples analysis carried out by USAID (12.5X).
Founders
Meet the founders
TIBU Health was founded by 3 passionate founders dedicated to leveraging technology to connect patients to healthcare workers in record time and improve the patient experience in the process.
