Villgro Kenya, an early-stage social enterprise incubator that supports innovative businesses in the healthcare and life sciences sector has invested US$80,000 in funding on Maisha Meds and Turaco, two companies working to improve health access for low-income Kenyans.
The two companies will each receive US$40,000 grant funding, mentorship and technical expertise to develop their business model and scale.
Maisha Meds is a software platform that ensures rural pharmacists and clinicians effectively purchase quality affordable medicines and pass on subsidies to patients.
The system provides rural patients who often visit local pharmacies first for basic care with quality and affordable drugs purchased through the Maisha Meds platform. This helps tackle the challenge of market access for pharmaceutical companies and providers, ensuring that high-quality medicines are affordable by patients and that counterfeit and substandard medicines are excluded from the supply chain.
“The mission of Maisha Meds is to develop systems to improve access to high quality and affordable medicines. We are incredibly excited to work with Villgro in this mission, and have heard wonderful things about the support that Villgro provides companies working to scale health technologies in East Africa,” said Jessica Vernon, Maisha Meds CEO.
Moses Waweru, Senior Programs Manager at Villgro Kenya mentioned that the platform relieves patients of the burden of purchasing expensive medicine while ensuring quality care.
Pharmacies will also be able to make smart orders using sales data generated from the system and take stock of their inventory and sales.
Turaco, on the other hand, offers health loans bundled with insurance so their clients can get care whenever a medical emergency arises.
“Turaco is changing the game in healthcare financing for emerging consumers. We are thrilled to have the support of Villgro to launch our innovative insurance and health loan products in Kenya and Uganda.” Said Ted Pantone Turaco, Co-founder & CEO.
“Finding sufficient money to pay for healthcare is a major problem for a big part of society, which causes many people to delay seeking treatment until their condition is more advanced, and more expensive to treat.”
“At worst healthcare costs are a primary factor pushing people back into poverty. We’re excited about Turaco’s experienced team, an innovative and scalable approach to solving this problem.” Said, Paul Belknap, Villgro Kenya’s COO.
Image Credits: Villgro Kenya