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VIEBEG Medical Receives New Investments to Improve Access to Affordable, Quality Healthcare in Africa (PRESS RELEASE)

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KIGALI, RWANDA, December 19, 2023 /EINPresswire.com/ -- VIEBEG Medical is pleased to announce a new investment from J&J Impact Ventures, an impact fund within the Johnson & Johnson Foundation, and Sanofi Global Health Unit Impact Fund. Serving more than 1000 hospitals, clinics, pharmacies and healthcare providers in Rwanda, Kenya and the Democratic Republic of the Congo. Viebeg is a health tech company that provides high-quality medical supplies and equipment as well as pharmaceuticals through VieProcure, an innovative data-driven procurement solution.

Founded in 2018, VIEBEG previously raised more than $2.5M from renowned VC firms such as Beyond Capital Ventures, Global Ventures, Angaza Capital, Founders Factory Africa, Norrsken and others. The start-up was founded by Chief Executive Officer Tobias Reiter and Chief Commercial Officer Alex Musyoka who made it their life mission to improve access to affordable quality healthcare in Africa.

“Through the past three years of operations at VIEBEG, our team has identified large inefficiencies when it comes to the procurement decisions of healthcare providers across the East and Central African region. As a result, we are leveraging our healthcare distribution and technology expertise to build a world-class Health Demand Simulation Model (HDSM), beginning in Rwanda, the market where Viebeg has operated the longest. Our HDSM model identifies the current healthcare demand, compares it to the supply of health services in the region, calculates the profitability of each unit of medical equipment, and then supports healthcare providers in making optimal procurement decisions, translating to better quality and more affordable patient outcomes”, says CEO Tobias Reiter.

Viebeg has grown rapidly over the past years and is now targeting an underserved $4B+ market in East and Central Africa.

According to CCO Alex Musyoka, the Company's combination of flexible financing and on- demand delivery also provide superior accessibility and convenience, enabling it to cater to resource-constrained hospitals and clinics that were previously priced out of the market. Crucially, Viebeg also uses customer data to predict near-term demand for medical supplies and optimize its own procurement processes.

“We are excited to play a role in Viebeg’s scale-up journey as an investor and partner through our Impact Fund,” said Jon Fairest, Head of the Global Health Unit at Sanofi. “Viebeg has demonstrated the value of its model in disrupting supply chain challenges to improve accessibility and affordability of quality and essential medical equipment in resource in constrained health systems, and we look forward to supporting their further expansion in pharmacies. We recognize the importance of investing in local entrepreneurial businesses that strengthen and support sustainable healthcare delivery and improve outcomes. Our Global Health Unit is dedicated to improving access to sustainable healthcare for vulnerable populations with the highest unmet medical needs.”

ABOUT VIEBEG TECHNOLOGIES
Viebeg Technologies, Inc. is a health tech company that provides high-quality medical supplies and equipment as well as pharmaceuticals to more than 1000 healthcare providers in Central and East Africa through an innovative procurement solution.

VIEBEG’s proprietary HDSM model uses demographic, medical, and economic data and the company’s credit scoring algorithm. VIEBEG’s procurement platform, VieProcure, also links healthcare providers to financing partners (fintechs, banks, institutional
debt investors) who can take more informed lending decisions based on the HDSM model.

Tobias Reiter
VIEBEG Medical
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