Clinicy closes seven figure funding for expansion across GCC
Clinicy, an Saudi healthtech business, will be using its recent seven figure investment from Riyadh-based private equity firm Mad’a Investment Company to onboard more medical institutions and clinics as it eyes its expansion across the Kingdom and other GCC countries. The funding follows successful integration and implementation results with medical institutions.
Clinicy’s proprietary healthcare management system manages bookings, appointments and patient engagement, increasing efficiency and quality of service. While the exact investment figure remains undisclosed, it is the largest Pre-Series A investment in the healthtech sector in the Kingdom of Saudi Arabia this year. The previous high in the healthtech sector was recorded by Nala who raised $1million raised in its first financing round in 2019.
According to Clinicy Co-founder and Managing Director, Talal Waleed Al-Hussein, “We are looking to scale the business to reach more medical institutions and clinics. These are our primary partners. Once onboarded, we want to expand the number of these institutions that are integrating and deploying our patient engagement tools for the benefit of their patients. We aim to grow across the Kingdom in the immediate future and to other countries in the coming years.”
In line with Vision 2030, the private sector in the Kingdom is looking for innovative ways to support healthtech and the wider healthcare sector.
This strategic partnership with Mad’a will enable Clinicy to capitalize on expertise and knowledge as it continues the development of quality innovative solutions and services. The planned expansion will help to reach a larger segment of customers and focus on creating enhanced experiences and benefits for users.
This latest round continues Mad’a Investment Company’s commitment in supporting the healthcare sector, with 121 health professionals already employed through the private equity firm’s strategic investments.