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BusyMed funding

South Africa-based healthtech BusyMed secures funding

The funds came from local venture capital firm LionPride

South Africa-based healthtech startup BusyMed as secured an undisclosed amount in a fresh funding round, the media reported.

The funding for BusyMed was provided by local capital firm LionPride.

The startup allows for pharmacies to provide real-time stock information, access performance data on best-selling items, manage inventory more effectively, and leverage off existing pharmacy and third party delivery solutions.

It also it facilitates and closes a gap where the end consumer may need to secure doctors consultations and provides an online prescription management service.

LionPride CEO Deven Govender hailed two healthtech startups, namely BusyMed and Mphati, and said they show significant potential.

He said, “Not only do we see human potential in Mphati and the impact of BusyMed in South Africa’s communities, but as a fund manager the investment has to make sense as well, and we believe it does.”

With regard to the funding, BusyMed founder Mphati Jezile told the media, “We’re excited about the opportunity this investment provides us. BusyMed aims at improving pharmacies’ engagement with their communities through technology and by doing so brings access to quality healthcare into everyone’s home.”

Recently, South African healthcare company RH Bophelo (RHB) cross-listed on the Rwanda Stock Exchange (RSE).

Pierre Celestin Rwabukumba, chief executive of the RSE, said in a statement that the listing signals the diversification for investors in Rwanda and the region.

JSE-listed real estate investment trust Growthpoint Properties’ Cintocare specialised surgical hospital development, in Pretoria, recently become the first healthcare property in South Africa, as well as in Africa, to be awarded a Green Star rating.

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