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Building African Healthtech Unicorns - A Report Launch

Apr 27, 2022   •   by   •   Source: Others   •   eye-icon 181 views

Wednesday, April 27, 2022 / 11:56 AM / by Flying Doctors Healthcare Investment Company / Header Image Credit: FDHIC

A new report from the Flying Doctors Healthcare Investment Company (FDHIC) focuses on some of the most valuable healthtech companies in the world valued at US$1B+. The report, 70 Global Healthtech Unicorns Valued at $1Billion+which was launched on 22 April 2022,  is a call to position African healthtech companies at the heart of a revitalized healthcare system following the COVID19 pandemic and the need to build added resilience into the emergence of African Healthtech Unicorns. 

"We need to make sure that African healthtech companies are implementing the right business model to sustain growth and the bottom line," said FDHIC Founder Dr. Ola Brown. "FDHIC through our venture capital investments focuses on two sectors; healthcare and fintech. We expect this report to shape the African healthcare agendas for years to come."

"An excellent report that really sets out the antecedents of global healthtech unicorns; what could be achieved with the emergence of African healthtech unicorns; and the nexus between fintech and healthtech," said His Excellency, Mohammad Alblooshi, Sector Head Fintech, and Innovation, DIFC.

The report was launched in a virtual event featuring experts from across Africa. His Excellency, Mohammad Alblooshi delivered a keynote address on the topic: "Building Global Unicorns Through Global Collaborations".

Key findings from the report include prospects for more unicorns to emerge with the present 70 global healthtech unicorns, making it the third-largest 'unicorn-producing' sector; taking a holistic approach to unicorns across the globe, with fintech unicorns three times more than there are healthtech unicorns; and exploring many opportunities to compete across multiple categories, as of 2019, healthtech represented a global market of approximately $350B.

To make this a reality, the report contains concrete predictions for the future pointing the way forward, including a commitment to build African healthtech unicorns taking a cue from the impressive list of unicorns that are setting the pace for others to emerge across different sectors, particularly healthtech. 

The report calls for more research and development specifically into what makes for a successful technologically driven healthcare system in Africa, a call that Ifeoluwa Olokode, Head of Partnerships, Helium Health echoed. "With health technology, we increasingly know what to do but often the challenge is how to make improvements work in the African context," she said. Other panelists at the virtual launch include Bryan Mezue, Co-Founder/CEO Lifestores Healthcare; Melissa Jane Bime, Co-Founder/CEO Infiuss Health and Oshiorenoya Agabi, Founder, CEO & CTO Koniku and Ifeoluwa Ariyo-Agbaje, Communications Executive, Flying Doctors Nigeria. 

This is FDHIC's 2022 Healthtech Unicorns Insight Paper and was produced to show where global healthtech unicorns are in relation to where African healthtech companies should place emphasis and resources to drive progress towards building African healthtech unicorns.

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