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.
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
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 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)
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.
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%
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.