Doha: Meddy, a Qatar-based doctor booking platform, which also has operations in the UAE, has announced that it has completed an agreement to be acquired by Helium Health (Helium), the leading healthcare technology provider in Africa.
Meddy’s platform and outstanding management team complement Helium’s business model and ideally positions the new, combined company to service the GCC healthcare market.
Meddy’s Chief Executive Officer Haris Aghadi and Chief Operating Officer Abed Alkarim Khattab will join Helium’s leadership team and play integral roles executing the enlarged company’s GCC strategy and operations.
The transaction comes at a time when healthcare in the GCC is set to grow rapidly. Investment in digital infrastructure will account for 30 percent of healthcare investment in the region between 2023 to 2030.
Aghadi commented: “Joining Helium is a perfect next chapter for Meddy as it enhances our mission to help patients make informed health decisions. Our goal has always been to provide technology to all the stakeholders across the value chain and joining forces gets us there faster. There is a strong synergy between our products, teams and markets. Combining Meddy’s marketing solutions with Helium’s clinical solutions will add tremendous value to our customers and transform healthcare in the Middle East and Africa”.
Meddy is a major Qatari success story and has benefitted from Qatar’s excellent startup and innovation ecosystem. The company started as a university project at Carnegie Mellon University – Qatar and Education City – Qatar. The company was then incubated at the Digital Incubation Center in Doha, and then later funded by Qatar Science & Technology Park.
Meddy was also the first start-up in Qatar to be funded by 500 Startups, the Silicon Valley-based early-stage fund and accelerator. Subsequently, it became the first startup from Qatar to raise an institutional Series A round.
At the Qatar IT Business Awards, Meddy was named 2016 “Tech Startup of the Year” and 2018 “ICT Exporter of the Year”. Aghadi was also named in Forbes’ Middle East’s 2021 “30 Under 30” list.
Adegoke Olubusi, Chief Executive Officer of Helium Health said: “We are delighted to complete this transaction which is perfect for Helium Health. Our business model has primarily been robust organic growth, but we always remain open to strategic acquisition opportunities. Meddy is an ideal complement to our existing business model; the right company, in the right location, at the right time.
“We will be leading the HealthTech revolution in Mea. In Qatar, UAE and KSA, a great market opportunity exists to work with care providers to improve patient interaction, make healthcare data more interoperable, and to improve revenue cycle management. I am excited to welcome Haris and his team to the Helium Health family and look forward to many years of fruitful collaboration,” he added.
As of November 2021, Meddy has facilitated more than 200,000 bookings, enabling healthcare providers generate approximately $130m in billings. Meddy works with over 150 top private healthcare providers in Qatar and the UAE. The startup company has also raised a total of $1.8m from Qatar Science & Technology Park, 500 Startups, 212, Kasamar Holdings and other angel investors.