South African e-health startup Quro Medical has received a $1.3 million investment from leading investment firm Mineworkers Investment Company (MIC).
MIC made this investment through its venture capital initiative Khulisani Ventures.
Founded in 2018 by Dr. Mlomi, Zikho Pali and Rob Cornish, Quro Medical provides leading healthcare solutions accessible to all.
The company’s innovative home hospital program provides patients with high-quality care at home while reducing the risk of infection and costs compared to traditional hospital stays.
According to Dr Vuyane Mhlomi, Quro Medical’s co-founder and CEO; “Our technology-enabled solutions are designed to provide seamless, patient-centric care that puts the patient first. We’re leveraging cutting-edge technology and evidence-based protocols to monitor patient health proactively, ensuring that every patient receives the best possible care in the comfort of their own home.”
Quro Medical’s service offering provides substantial opportunities for scalability, says MIC Impact Investment Manager, Thato Ntseare.
“Quro Medical presents MIC with a new and exciting track for us from an impact investment strategy point of view. While we are focused on businesses that provide technology-based solutions, this is the first health tech business funded through Khulisani Ventures. Remote patient management is a growing trend globally and the business case and deep understanding of the value chain presented by Quro Medical demonstrates similar growth opportunities in South Africa. We are also attracted by the impact this business presents as it has high potential for increasing accessibility to healthcare services.
Since its inception, Quro Medical has partnered with Life Healthcare, South Africa’s largest private hospital group.
Quro Medical’s services are also covered by most medical plans in South Africa.
In 2020, Quro Medical launched a home hospital that provides qualified patients with clinically acceptable, patient-centered hospital care at home.
Since launch, more than 1,000 patients have been successfully treated at home with similar or improved clinical outcomes and a better patient experience.
The new funding will allow Quro Medical to further develop the technology, expand its reach, improve patient outcomes and reduce costs for patients and providers.
“At Quro Medical, we are proud to be the African pioneer and leader of the Hospital at Home Program. This innovative solution is the future of healthcare delivery, and we are excited to be at the forefront of this transformational shift. With our clinical-grade real-time monitoring and personalised care, we are improving patient outcomes and reducing the burden on traditional hospital systems”, says Zikho Pali, co-founder and COO.
Quro Medical’s investment is MIC Khulisani Venture’s first step into the digital health space, further diversifying its investment portfolio. This is also Khulisani’s first investment from his second funding window.
