What's Hot

    Gameball raises USD 3.5 million in funding

    February 8, 2023

    Tawseel secures investment from Numu Capital

    February 7, 2023

    Google launches Women Founders Africa Program

    February 6, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      KarmSolar receives USD 3 million to develop Farafra Solar Grid

      January 11, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      Hyosung Heavy Industries to start construction on South African energy storage project

      December 12, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Free trade: Qatar and Morocco conclude second round of talks

      January 31, 2023

      Gold-for-oil: Ghana attempts to address forex pressures

      January 18, 2023

      AD Ports Group reports strong growth

      January 3, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Social investment platform InvestSky raises USD 3.4 million

      Business Entrepreneurship Finance January 12, 2023
      Recent

      Social investment platform InvestSky raises USD 3.4 million

      January 12, 2023

      African startups face challenges in 2023

      January 10, 2023

      MENA startups raised USD 125 million in December

      January 6, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business

    CheckMe acquires a majority stake in DoctorOnline through Exits MENA

    December 21, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    CheckMe
    Healthtech companies in the MENA region are valued at a combined USD 1.5 billion.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    CheckMe has acquired a majority stake in DoctorOnline. The deal took between the two healthtechs took place through Exits MENA.

    CheckMe, a supplier of on-demand medical lab services, has acquired a majority stake in DoctorOnline, a virtual clinic mobile application. The deal took place through Exits MENA, a platform designed to help foster investments in regional startups. All three companies are based in Egypt.

    CheckMe and DoctorOnline

    CheckMe is a customer-centric marketplace mobile application that provides on-demand medical lab services through multiple lab partners safely, accurately, and quickly. DoctorOnline, founded by Dr Mahmoud Abdel Hakim, is a virtual clinic mobile application that offers various medical services virtually to its patients through access to expert doctors across all medical specialties via video calls.

    MENA healthtech valued at USD 1.5 billion

    According to Exits MENA, healthtech companies in the MENA region are valued at a combined USD 1.5 billion, a 22X increase since 2016. This surge in value, the company claims, can be attributed to the impact COVID has had on people’s attention to their wellbeing. Regional healthtech has seen growth in telemedicine, r-pharmacy and e-diagnostic, which have rapidly increased since the pandemic. 

    Dr Nesma El Talawy, CEO of CheckMe, said, “This acquisition falls in line with our expansion strategy in the region and in-line with the expansion of our service offering. According to McKinsey Global Institute, the costs saved by healthtech to the healthcare sector could lie between USD 1.5 trillion and USD 3 trillion a year by 2030, which makes acquisitions like this pivotal in their economic impact in the region”. CheckMe aims to become the region’s leading healthtech super app, helping patients find more convenient, efficient and cheaper channels for medical needs.

    Pushing the boundaries

    Healthtech continues to challenge how traditional healthcare is being delivered. It has the potential to create breakthroughs in the way healthcare is delivered in the future, according to the two companies. According to Exits MENA, this acquisition marks a significant restructuring and an enhancement of the patient journey and provides patients with a comprehensive medical cycle.

    The Exits MENA team stated that the acquisition brings CheckMe’s market value to USD 20 million, and that the deal is the first of many to come in the next period. The team believes that it is their core role to consolidate the market and promote growth in the region to better support startups and SME’s in their investment needs. Exits MENA is already planning key milestones to grow its existing pipeline further and develop the offering on its current beta platform, Exits.me.

    Earlier this year, Exits MENA raised USD 1 million in pre-seed funding.

    Africa CheckMe DoctorOnline Egypt ExitsMENA Healthtech M&A Startups
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleArtemis Accords: Nigeria and Rwanda first in Africa to sign
    Next Article The top 50 most-funded MENA startups

    Related Posts

    Business Innovation

    Gameball raises USD 3.5 million in funding

    February 8, 2023
    Business Startups

    Tawseel secures investment from Numu Capital

    February 7, 2023
    Business Innovation

    Google launches Women Founders Africa Program

    February 6, 2023
    View 1 Comment

    1 Comment

    1. Pingback: MENA startups raised USD 125 million in December

    Leave A Reply Cancel Reply

    LATEST STORIES

    Gameball raises USD 3.5 million in funding

    February 8, 2023

    Tawseel secures investment from Numu Capital

    February 7, 2023

    Google launches Women Founders Africa Program

    February 6, 2023

    Zurich Innovation Championship goes live

    February 3, 2023

    MNT-Halan valued at USD 1 billion

    February 2, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.