Remedial Health Has Just Raised $4.4 Million In Seed Funding

Earlier this year, Remedial Health, a Nigerian healthtech startup, announced plans to scale up the digitalization of pharmacies in the country in a bid to improve the efficiency of the drug supply chain after raising seed funding.

The startup has expanded its reach from six to 16 states of the federation since February, and plans to cover the remaining 20 as it embarks on a nationwide rollout. Remedial Health is also looking to spread to other East and West African countries, and this is because of their just concluded $4.4 million seed round.

Remedial Health, founded in 2021 by Samuel Okwuada (CEO) and Victor Benjamin (COO), and the platform enables pharmacies to easily access major manufacturers and distributors such as GSK Pfizer, AstraZeneca, Orange Drugs, Emzor and Fidson Healthcare in Nigeria.

By enabling nearby pharmacies and hospitals to source from certified merchants, the startup brings new efficiencies to the pharmaceutical value chain and stops the supply of counterfeit and substandard products. Its inventory financing and loan features help its customers grow their shopping baskets, scale, and improve their operational efficiency.

Okwuada said the startup has grown since the beginning of the year, thanks to the adoption of its digital “buy now, pay later” offerings and expanded campaigns.

The startup’s digital offerings include a digital procurement platform that enables pharmacies to manage their operations by facilitating the making and tracking of orders. It also supports financial reporting and accounting, while providing real-time market intelligence, improving manufacturers’ decisions about forecast production and distribution.

Source: Tech Crunh

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