SAUDI ARABIA – Alma Health has snapped up US$10 million in a Series A funding round to fuel business growth in the Kingdom of Saudi Arabia.
This financial boost was co-led by Knuru Capital, Hambro Perks Oryx Fund, e& capital, S3 Ventures, Pinnacle Capital, and Khwarizmi Ventures.
Established in 2021 by Tariq Seksek and Khaldoon Bushnaq, Alma Health is dedicated to transforming the typical healthcare experience for people with chronic conditions.
Its digital platform provides chronic conditions with a fully digital experience, from a virtual doctor consultation at the tap of a button to prescription delivery and ongoing care.
The users’ healthcare specialists, and insurance providers, and Alma Health’s physicians and pharmacists are all connected via the Alma Health Operating System in an increasingly digital world.
Alma Health has completed the acquisition of US$10 million in its Series A funding round with the financial advice of KCP Capital, an entrepreneur-led advisory firm based in the Emirate of Dubai.
Commenting on the latest investment round, Co-Founder of Alma Health Tariq Seksek said: “Alma Health is truly blessed to have touched and improved the lives of many people living with chronic conditions in the Middle East and North Africa.”
The proceeds will be utilized to accelerate access to direct-to-patient healthcare services for people with chronic conditions in the Kingdom of Saudi Arabia.
Moreover, the new capital infusion will empower Alma Health to expedite of expansion its direct-to-consumer digital-first approach into new, foreign markets.
Alma Health will also use these fresh funds to bring direct-to-patient healthcare services closer to patients in the United Arab Emirates, and Egypt.
These strategic objectives will build on the primary goal of the United Arab Emirates-based digital health company to limit the time spent managing chronic conditions to an absolute minimum.
“We need to continue to innovate on our end-to-end health-tech solution with the patients at the heart of the experience,” stated Tariq Seksek.
Consequently, Alma Health is revolutionizing the healthcare industry in the MENA region, and the significant increase in users is resulting in its expansion to the Kingdom of Saudi Arabia in the coming months, with the help of its investors.
The Series A funding round comes barely two years after Alma Health secured funding from the Hambro Perks Oryx Fund, a dedicated venture fund backing early-stage startups across the Middle East and North Africa.
Based in Hub71, Alma Health is a digital health company that simplifies the lives of people with chronic conditions and those who care for them by harnessing the power of technology.
The UAE-based digital health company is fully licensed by the Department of Health – Abu Dhabi (DoH) and is accredited by major health insurance networks like Thiqa, Daman, NAS Neuron, and Oman Insurance.
Alma Health is also offering at-home lab tests, automatic prescription renewals, and home delivery of prescription medicines without any additional cost.
Patients can also benefit from a second opinion on their chronic condition and a customized management plan to improve clinical outcomes.
Commenting on future plans for Alma Health, Khaldoon Bushnaq, Co-founder of Alma Health, said: “While our platform offers day-to-day healthcare management of chronic conditions, its true value lies in its ability to improve health outcomes for our community members through personalized digital-first treatments and at home monitoring systems that support their healthcare journeys.”
For all the latest healthcare industry news from Africa and the World, subscribe to our NEWSLETTER, and YouTube Channel, follow us on Twitter and LinkedIn, and like us on Facebook.
