Cairo – Mubasher: Exits MENA locks down 2022 with a new takeover deal in the Egyptian healthtech industry, with CheckMe acquiring a majority stake in DoctorOnline, a doctor appointment booking app.
The deal brings the Egypt-based healthtech platform CheckMe's market value to $20 million, according to a press release.
This acquisition is an indication of the continued growth of healthtech in the region, especially in telemedicine, r-pharmacy, and e-diagnostic, which have rapidly increased since the Covid-19 outbreak.
Powered by the T3G investment group and founded in 2020, CheckMe is a customer-centric marketplace mobile application that provides on-demand medical lab services through multiple lab partners.
Established by Mahmoud Abdel Hakim, DoctorOnline is a telemedicine platform that enables users to consult doctors via video conferencing or calls.
Nesma El Talawy, CEO of CheckMe, explains: “This acquisition falls in line with our expansion strategy in the region and in line with the expansion of our service offering.”
The Founder of Doctor Online, commented: “This new acquisition was made possible with our sell-side mandate with Exits MENA, who was able to bring together the best strategic and financial output for the deal. The healthtech sector is still heavily unsaturated, and the more comprehensive a product, the better fit it will be for patients; who want their data to be safely protected while getting the healthcare that is quick, cost-effective and accurate.”
It is worth noting that healthtech companies in the MENA region have reached a combined value of $1.50 billion, a 22X increase since 2016.
