Despite several economic challenges and insecurity, Olusoga Oni, a Nigerian entrepreneur is shattering the glass ceiling of the healthcare industry by securing a whopping $3 million deal, an impressive Pre-Series A round of financing.
Oni, who leads a Nigerian health-tech company, MDaaS Global along with his team has been in the news for taking a giant step to improve and transform the healthcare system in Nigeria.
The pioneering health-tech company and operator of Nigeria’s fastest-growing healthcare network, BeaconHealth Diagnostics has served over 275,000 patients across 10 states and has expanded to 17 locations across the country.
Founded in 2016, Olusoga Oni alongside his partners, Opeyemi Ologun, and Genevieve Oni as MDaaS Global pioneered their first diagnostic clinic in 2017. This was achievable with a primary focus on imaging, cardiac assessments, and laboratory diagnostics.
Leveraging its technological infrastructure and widespread care network, MDaaS Global currently assists over 1,300 healthcare facilities, companies, and HMOs, providing essential diagnostic services through BeaconHealth.
The health-tech company’s mission is to democratize access to premium diagnostics and healthcare services across Africa.
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How will this investment by Olusoga Oni impact MDaaS Global?
This round of investment was championed by Aruwa Capital Management with a follow-on investor from Newtown Partners. There was an additional follow-on investment from Ventures Platform, one of the few companies that believed in the dream and invested.
This new round of financing brings MDaaS Global’s total investment to date to six million, eight hundred thousand million dollars ($6.8 million).
The newly secured funds will be directed towards advancing the development of MDaaS Global’s proprietary technology platform, BeaconOS, introduced last year.
Additionally, the capital will fuel the expansion of the healthcare network to encompass all thirty-six (36) states in Nigeria, employing a combination of company-owned and affiliate clinics.
This strategic initiative brings MDaaS Global one step closer to fulfilling its mission of democratizing access to top-tier diagnostics and healthcare services throughout the continent.
Reaffirming his commitment to transforming the healthcare system, the CEO of MDaaS Global, Olusoga Oni said,
“Years of operating within Nigeria’s healthcare system have given us a deep understanding of its challenges and points of friction. At MDaaS Global, we’re leveraging this experience to develop technology uniquely tailored to the African healthcare experience. BeaconOS isn’t just about solving our own challenges; it’s empowering our patients and partners with solutions customized to their needs and revolutionizing healthcare delivery across Africa.”
Thrilled to be part of the partnership is the Founder & Managing Partner at Aruwa Capital Management, Adesuwa Okunbo Rhodes. She stated,
“We are thrilled to partner with MDaaS Global on their mission to revolutionize healthcare delivery in Africa. MDaaS’ track record of consistent and impressive growth, as well as our dedication to bringing high-quality diagnostics to high-need patients, resonated deeply with us. As a gender-lens investor, we are especially excited to support a company that is driving change for women across Nigeria – over 60% of BeaconHealth patients are women, predominantly of reproductive age – and MDaaS shares our commitment to building gender-diverse teams.”
Llew Claasen, Managing Partner at Newtown Partners also shared his excitement about the potential of the health-tech company. In his words,
“At Newtown Partners, we invest in companies with the potential to make transformative changes in their industries, and MDaaS Global exemplifies this ethos. Since first investing in MDaaS in 2021, we have been continually impressed by their ability to grow in a challenging market, their insightful approach to technology development, and their ambitious vision for expanding healthcare access across Africa. We are excited to further support MDaaS in their journey and are confident in their ability to deliver value to patients and stakeholders alike.”
With Olusoga Oni’s leadership, MDaaS Global has been able to leverage technological advancement to give the healthcare system of Nigeria a better reputation.
In 2023, the health-tech company launched its first application, Olewerk, designed to enhance diagnostic workflows. This application is presently operational across all seventeen (17) MDaaS locations.
Additionally, MDaaS developed Beam, its first application tailored for partners, facilitating corporate partners in effectively managing occupational health for their teams.
