Venture capital firm The Africa Group (TAG) has bought a 25 per cent stake in Ethiopian engineering consultancy Telemed Medical Services.
Telemed will use TAG’s investment and a tranche from a USAID and DFID-backed development fund to increase its service capacity in Ethiopia, build a remote patient monitoring system and to fund a marketing campaign.
Telemed and its joint venture partner BelCash Technology Solutions have launched Hello Doctor, which is Ethiopia’s only facility where patients can call a short code number to access professional health services.
TAG managing partner Elias Schulze said, “We view this engagement as just the beginning of our journey together and look forward to transforming and deepening our ability to touch greater swaths of the public both in Ethiopia and beyond.
“The team, led by Special Operations Associate, Tim Burkly, worked tirelessly with Dr. Yohans’ team to complete this unique transaction and we are positioned well to scale together.”
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