“Medical Devices As A Service” (MDaaS) Wants To Transform Nigeria’s Healthcare System
Medical Devices As A Service (MDaaS) is seeking to transform Nigeria’s healthcare system by making medical devices available, accessible and affordable. The startup, according to its website, provides hospitals with a range of device acquisition options and offer world-class service support with each device.
The startup’s services include the following:
- Direct Sales: It sells new and refurbished medical devices from leading brands such as GE, Philips, Siemens, etc.
- Renting & leasing: Clients can also rent (short-term) or lease (longer-term) its medical devices.
- Partnership: The startup provides its devices to hospitals who need them desperately but have low capital. The profit made from the devices is shared with the hospitals.
The company’s inventory cuts across the following equipment categories:
- Life Support
- Medical furniture
- Labs & Diagnostics
You can find a full list of the inventory here.
MDaaS is one of the the 2015 ALN Ventures companies.
Oluwasogo and Genevieve, two of the three Co-founders at MDaaS with the second place award at the 2015 PHN Health Innovation & Impact Investing Summit
Meet The Founders of MDaaS
The startup was founded by Oluwasoga Oni who has a Bachelors degree from Covenant University, Nigeria and two Masters Degree. He holds a Masters degree in Engineering and Management, System Design and Management from the Massachusetts Institute of Technology.
Other Co-founders include Genevieve Barnard and Joe McCord. Genevieve is a member of the Babson Social Innovation Lab while Joe is a graduate of MIT’s Supply Chain program.
The Case For MDAAS
The Case For MDaaS
In summary, Nigeria’s healthcare system is broken. No one probably knows this better than Oluwasoga Oni whose Dad is a Doctor with over 30 years experience. Oluwasoga made a case for his startup in this well written article.
Here are a few statistics from the article:
- The number of CT scanners per person in the US is around 35 scanners per million, but that number in Nigeria is about 0.26 scanners per million.
- In Ondo State there is only 1 CT scanner for 3.8 million people.
- Nigeria has one of the highest cancer death rates in the world.
It will appear Oluwasoga sought to put it nicely when he mentioned these statistics. The situation on ground is even far more worrying. Here are some more statistics:
- Number of Doctors in Nigeria is 39,210 i.e. about 1 doctor to 4400 Nigerians. The WHO standard is 1 doctor to 600 Nigerians.
- Risk of Maternal Death is put at 1 in 18.
- Infant Mortality rate is 75 out of every 1,000 births.
Many hospitals in Nigeria lack basic equipment because they simply cannot afford it. Government’s funding to the health sector is quite poor. Nigeria-trained doctors have been migrating in large numbers to the US, UK and Canada. About 3,567 of them migrated overseas in 2007. These three factors combined; inadequate funding, inadequate expertise and lack of basic equipment, contribute to the worrying statistics quoted above.
MDaaS is taking on one of these challenges and it is laudable. Providing affordable and accessible medical equipment will go a long way in making a change in our healthcare system. While Oluwasoga and his team may not be able to solve all the problems, their services will definitely save more lives.
The health sector is one of the major areas startup founders and entrepreneurs can make considerable impact on society. With a good business model and a passion to create impact, founders will contribute to solving our country’s healthcare challenges. I wouldn’t end this article without mentioning some of the other health startups making a change in the country, they include LifeBank, APMIS, Maza, RedBank, OneMedical etc. Did we miss out any great health startup? Do let us know in the comments section.
Originally published at Techvoize.