NIGERIA – MDaaS Global, a healthtech company and operator of BeaconHealth Diagnostics, has raised a US$3 million Pre-Series A round of financing to further develop the company’s proprietary technology platform BeaconOS.

The round was co-led by Aruwa Capital Management and follow-on investor Newtown Partners. It also landed additional follow-on investment from Ventures Platform, one of the company’s earliest institutional investors. This new round of financing brings MDaaS Global’s total investment to date to US$6.8 million. 

The additional capital will also be used to expand its healthcare network to all 36 states in Nigeria through a mix of company-owned and affiliate clinics. 

This strategic move propels MDaaS Global closer to its mission of democratizing access to high-quality diagnostics and healthcare services across the continent.

With a focus on reaching underserved communities, MDaaS Global launched its first diagnostic clinic in 2017, providing imaging, cardiac, and laboratory services. Since then, the company has experienced remarkable growth, expanding to 17 locations across 10 states in Nigeria. 

Through a combination of its technology backbone and distributed care network, MDaaS Global has served over 275,000 patients to date and currently supports over 1,300 healthcare facilities, companies, and HMOs who rely on BeaconHealth for their diagnostics needs. 

BeaconOS, the company’s latest technology, serves as the digital backbone of MDaaS Global’s healthcare network, akin to a computer’s operating system, that optimizes and connects their physical clinics, which act as the ‘hardware.’

Built on top of BeaconOS are a suite of applications designed both to streamline healthcare delivery at BeaconHealth clinics and to digitally integrate with the company’s diverse network of partner organizations. 

Last year, MDaaS launched its first application, called Olewerk, for optimizing diagnostic workflows, currently deployed across all of their 17 locations, and developed its first partner-facing application, Beam, which enables its corporate partners to seamlessly manage occupational health for their teams.

“Years of operating within Nigeria’s healthcare system have given us a deep understanding of its challenges and points of friction,” CEO Oluwasoga Oni said.

“At MDaaS Global, we’re leveraging this experience to develop technology uniquely tailored to the African healthcare experience. BeaconOS isn’t just about solving our own challenges; it’s empowering our patients and partners with solutions customized to their needs and revolutionizing healthcare delivery across Africa.”

With this injection of capital, the company will develop new applications on the BeaconOS platform that solve critical issues in the healthcare system: An affiliate clinic portal will facilitate collaboration with partner clinics across the country, allowing for real-time patient referrals, seamless results management, and standardized quality control. 

This digital integration will enable rapid expansion of MDaaS Global’s clinic network and broader access to high-quality diagnostics services for communities across Nigeria.

MDaaS plans to build and launch digital integrations with Health Maintenance Organizations (HMOs), aiming to disrupt the traditionally manual and inefficient authorizations and claims processes. 

The company is also developing a patient-facing application that allows patients to book visits at MDaaS-owned and affiliate clinics, view their results, access follow-up care, and manage their health insurance enrollments – all from one central portal.

The need for improved diagnostics across Africa is critical. In 2023, the World Health Organization (WHO) Regional Committee for Africa estimated that only about 30% of health facilities in Africa have the necessary equipment to perform basic diagnostic tests, with marginalized and underserved populations being the most affected. 

Concurrently, the organization identified the availability of and access to diagnostic and laboratory services as one of the key pillars to achieving universal health coverage. 

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