Bupa Arabia backs Dubai’s Okadoc with investment and strategic partnership

Bupa Arabia, the Saudi-owned and publicly traded medical health insurance firm, has simply introduced its backing of the Dubai-based on-line appointment reserving platform, Okadoc.

The 2 MENA companies have signed a “strategic partnership”, which incorporates an undisclosed fairness funding by Bupa Arabia in Okadoc.

A part of the Bupa World community, Bupa Arabia backed the healthtech startup as a part of its mission to “improve buyer expertise and elevate the extent of its digital healthcare companies”.

CFO Nader Ashoor defined: “One in every of Bupa Arabia’s key strategic priorities is to develop its funding portfolio in progressive tech firms.

“The partnership comes consistent with the aspirations of the [Saudi] Ministry of Well being, the Council of Cooperative Well being Insurance coverage [CCHI], and the Central Financial institution [SAMA] in driving digital transformation within the sector in accordance with the goals of the Kingdom’s Imaginative and prescient 2030.”

THE LARGER CONTEXT

Based in 2018 by Fodhil Benturquia, who presently serves as CEO, Okadoc describes itself as “the one one-stop store affected person engagement platform that’s straight built-in with suppliers’ well being data techniques [HIS/EMR], permitting sufferers to see real-time availabilities and e book video and in-person appointments seamlessly with none admin assist”.

Based on the corporate, its expertise has been confirmed to optimise healthcare appointment bookings, decreasing “no-shows” by as a lot as 75%, and supply new income streams by way of on-line consultations.

It has to this point secured funding of roughly $12.3 million.

WHY IT MATTERS

The partnership will see Bupa Arabia’s insured members being supplied immediate medical appointments with medical doctors “throughout greater than 60 specialities”, in addition to different digital well being companies by way of the platform.

“We’ll at all times want medical doctors’ workplaces, however it’s as much as digital well being innovators to facilitate the correct mix of in-person and digital interactions,” continued Nader.

Final month, Bupa Arabia introduced the launch of its telehealth platform that specialises “value-added healthcare companies corresponding to doctor-patient video consultations [telemedicine] and appointment reserving”.

Bupa Arabia COO, Mohamed El Missaoui, mentioned on the time: “Digital transformation is a key pillar in our technique. We’re dedicated to remodeling the supply of healthcare companies by increasing our digital management and creating sustainable and accessible technological options.

“We’re proud to be working with probably the most prestigious companions from the healthcare sector within the Kingdom that embody main hospitals and healthcare professionals whereas additionally additional advancing our capabilities by partnering with different tech healthcare platforms corresponding to Okadoc and Sanar.”

ON THE RECORD

“Our mission at Okadoc has at all times been easy: to enhance the healthcare expertise for all,” mentioned Benturquia. “Our white label resolution is presently adopted by a number of the area’s largest suppliers and payers. By means of our expertise, sufferers may have direct entry to prime hospitals and clinics all through the Kingdom – that is precisely the kind of game-changing expertise that the sector wants.

“We look ahead to our strategic partnership with Bupa Arabia to assist us obtain our mission and put together us for our subsequent stage of progress.”