South African healthtech startup Quro Medical raises $1.3m funding from Mineworkers

Quro Medical, the South African e-health startup has received a $1.3 million investment from leading investment firm the Mineworkers Investment Company (MIC). MIC made the investment through its venture capital initiative, Khulisani Ventures.

Founded in 2018 by Dr Mhlomi, Zikho Pali and Rob Cornish, Quro Medical makes premium healthcare solutions accessible and affordable for everyone. The company's innovative Hospital at Home Program offers patients high-quality medical care from the comfort of their own homes, while reducing the risk of infection and cutting costs compared to traditional hospital stays.

Vuyane Mhlomi, Co-founder and CEO, Quro Medical: "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."

Thato Ntseare, Impact Investment Manager, MIC: ''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 it was launched, Quro Medical has already partnered with South Africa’s largest private hospital group, Life Healthcare.  Quro Medical’s services are also reimbursed by most South African medical aid schemes. In 2020, Quro Medical launched Hospital at Home, which provides qualifying patients with clinically appropriate and patient-centric hospital-level care in their homes. Since launching, over 1000 patients have been treated successfully in their homes with similar or improved levels of clinical outcomes and a better patient experience.

With the new funding, Quro Medical will be able to further develop its technology and expand its reach, improving healthcare outcomes and reducing costs for patients and providers.

Zikho Pali, Co-founder and COO, Quro Medical: ''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.''

The Quro Medical investment is MIC Khulisani Venture’s first foray into the digital healthcare space, further diversifying its investment portfolio.  It is also the first investment from the second funding window for Khulisani.

www.quromedical.co.za