Photo - Medkit.Network
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Medkit.Network

Design & deployment of digital healthcare infrastructure

Kenya
Market: Logistics and warehouses, Medicine, Trade, Franchising, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 14.10.2020
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Idea

Medkit.Network is playing a role in the transformation of global health through the design & deployment of digital healthcare infrastructure in Africa

It is tackling the problem of poor patient, supply chain & business operations records

Medkit.Network does this through facilitating pharmacies & clinics with business management systems, tools, practical coaching, access to credit & networking support from start-up to expansion.

Current Status

Product is currently in the market

Looking for early stage partnerships to help with cleaning up & improving on Prototype, the 10 Pharmacy Management Information System clients, 3 Medkit Credit clients, serving pipeline of waiting clients & technical assistance for investor readiness to attract Series A type of funding for national & regional scaling

What we are now looking is to scale to 10 clients in the pipeline with average inventory needs of $40,000 that will give us 5% of monthly cost of sales that will give us $12,000 per year as a margin

Market

Over 80% of the 5,000 pharmacies and 10,000 hospitals and clinics (note these are only registered numbers. Nearly double not registered and further segmenting the market.

The Local Pharmaceutical market is currently at $1.5Billion (serving only Kenyas 50Million people not factoring the 350,000,000 market population.

Problem or Opportunity

Over 80% of the market cannot access financing for their growth needs leading to 1,000 pharmacies closing every year.

There gap is lack of infrastructure that will avail data on demand to accurately forecast and quantify the operational capacity or pressures

This affects access to medicines for the public, instability & insecurity in the price and availability worse still it is impossible to rely on the data for disease and medication use surveillance even for vaccinations

There is great opportunity in data portability applications that we can grow into

Solution (product or service)

Our pharmacy management system that we have build from 15 years of running and working in community pharmacies and owning a chain of pharmacies is best placed to liberate the problem of lack of data and then provide insights for improved patient care, supply chain and funds for expansion

Competitors

Competitors would be shylocks & other unstructured lenders

However, we have seen https://www.pharmaccess.org/ come into the market, however they are limited to the data they get fr om the payment gateway. We are only ones with the pharmacy management business system

https://heliumhealth.com/ also are big in West Africa with huge gap in East Africa wh ere we have a good grasp of market

Advantages or differentiators

The market relies on collateral, even cash collateral

We are looking at systems and structures for the pharmacy owner mentoring and coaching them in a network offering group branding and discounts as well as access to financing to see them succeed as a business.

They only pay us as they sale. (almost like a stock consignment model)

Finance

We have a simple revenue model, 5% of the cost of sales.

There are multiple options to grow these and will be tested as we go.

Business model

Recruit pharmacies that need our platform as a place to be cared for, receive encouragement, financing, branding & networks to succeed in a harsh & fragmented environment all for a margin of the cost of sales

Money will be spent on

Operations & hosting on Amazon Cloud over 3 years - 10%
Marketing - 15%
Stock financing - 75%

Offer for investor

Equity (10%) & debt (3 years) financing = total seeking $1,000,000

Team or Management

Risks

Default on payments

However our Client due diligence checks in the professional bodies and using the license as a collateral as well as pay as you go model and proprietary Pharmacy management Operations System give us an edge.

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video