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Health-tech is becoming wealth tech

Utụtụ ọma, That’s ‘good morning’ in IgboIn 1976, M. F. Weiner, a renowned US Medical Economist, wrote
get.Africa
Health-tech is becoming wealth tech
By get.Africa Weekly • Issue #18 • View online
Utụtụ ọma,
That’s ‘good morning’ in Igbo
In 1976, M. F. Weiner, a renowned US Medical Economist, wrote a paper titled “Don’t Waste a Crisis — Your Patient’s or Your Own”.
In it, he explained how a medical crisis can bring about opportunities. 
The thinking might seem callous but Weiner was on to something. 
No more insufficient funds
Having been perennially regarded as one of the ecosystem’s ugly stepsisters, health-tech is poised to have its Cinderella moment.
In 2019, the sector pulled only 5% of funds raised by African startups and in the previous year, that figure was around 2%.
But Helium Health, a Nigerian electronic medical records company, recently secured $10 million in investment from a Series A funding round.
That brings health-tech’s fund raising total in 2020 to $69 million, over 90% of the previous year’s total. 
How much of it is down to the pandemic?
COVID-19 has increased our collective comfort level with telemedicine
Recall the saying that:
When the desirable is unavailable, the available becomes desirable.
Investors are predicting that the desire for telemedicine will remain even after the pandemic is gone. They are betting that doctors in Africa won’t only be on call, they’ll also be online.

A catastrophe is serving up the perfect storm to African health-tech startups
Nigeria’s Helium Health closes $10 million Series A from Dubai-based firm and Tencent
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Careem lays off 31% of its workforce as the business takes a big hit due to Covid-19
The ripple effects as Uganda plans to bring boda bodas under e-hailing companies
Medical delivery drones are helping fight COVID-19 in Africa, and soon the US
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