Photo - MedX Intl
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MedX Intl

Uganda
Market: Internet and IT
Stage of the project: Operating business

Date of last change: 23.03.2022
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Idea

MedX is a company providing lab information systems to increase profitability of diagnostic service providers with improved efficiency, increased customer satisfaction and easy to access information

Current Status

- 15 labs
- $270,000 AAR (Annual Run Rate)
- 12 employees
- Cashflow positive

Market

- Private Labs
- Hospital Labs
- Public Health Programs (TB, HIV, AMR, HPV, etc)
- Airport Labs

Problem or Opportunity

Labs underperform due to ineffective management of information and processes. >70% of critical medical decisions are based of lab results but >53% of lab test results exceed the expected turnaround time (Shiferaw, 2019) yet >93% of errors & delays in labs come from pre-analytical* and post-analytical** processes (S Ambachew et al., 2018)

Solution (product or service)

Instrument Interfacing - direct integration of diagnostic equipment eliminates >95% of manual interpretation and transcription

Process Optimisation - our first principles rethinking of lab processes achieves >80% improvement in TAT

100% Paperless - Our user friendly and flexible data collection tools eliminate paper based systems and adds a connected experience for customers

Finance

-

Business model

We charge a fee per test completed

Money will be spent on

- Product Development
- Scaling Operations
- Acquiring 100+ labs in 12 months
- Certification and Compliance

Offer for investor

50-100X ROI in 3-5 years

Team or Management

Won the competition and other awards

Grant Winner for the 97Fund 2020
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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