Japanese pharma invests in SA’s RecoMed

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 06 Mar 2024
Sheraan Amod, founder and CEO of RecoMed.
Sheraan Amod, founder and CEO of RecoMed.

Local health technology company RecoMed has received an investment for an undisclosed amount from Japanese pharmaceutical firm Eisai.

A statement says it is RecoMed’s largest funding round, to date.

RecoMed is an online healthcare marketplace and booking platform in SA, connecting practitioners, patients and other stakeholders in the healthcare ecosystem. The company manages more than 100 000 bookings a month.

According to the statement, the investment will be used to create a digital patient healthcare journey focusing on key areas, particularly oncology and neurology.

The investment will be used to make RecoMed the first digital connection to care platform to address breast cancer, it states.

“Eisai recently entered the African market and has a clear vision around the value of digital platforms that provide people with easy access to healthcare which aligns with our own,” says Sheraan Amod, founder and CEO of RecoMed.

“The investment will be used to enhance our technology, drive awareness of the platform and build a more robust digital healthcare journey for patients.

“We are deeply committed to improving the patient treatment journey and overall outcomes across a range of diseases and, with our initial focus on breast cancer, we are firmly on the road to achieving this goal.”

Shin Ujiie, vice-president for corporate strategy at Eisai, adds: “We engaged with RecoMed as they align with our goal to use digital platforms and technologies in order to streamline the entire patient journey, thus ultimately alleviating people’s anxiety over health and reducing health disparities.

“Healthcare is complex and therefore can be difficult to access and we have sought to change this narrative, making health an easily-accessible priority for everyone. RecoMed has proven themselves as leaders in this space and their innovative approach to digital health service makes them the perfect partner on our journey.”

RecoMed works with pharmacies, clinics, primary care and hospital groups. The network allows for practitioners, in partnership with medical aids, insurers, pharmaceutical companies and other organisations, to gain access to a growing pool of patients.

Enterprises can white-label RecoMed, using it for bookings and telehealth appointments. The health tech firm also provides an e-pharmacy service, allowing patients to upload prescriptions and opt into either collecting them from a participating pharmacy or have them delivered.

“The funding from Eisai will ensure we continue to improve access and healthcare delivery for patients by cutting down the time it takes them to book the services they need,” notes Amod.

“We are facilitating more than R500 million in healthcare spend annually by making patient care simple for our more than 1.5 million users.”