ALMA Clinics, a nurse-led, tech-enabled private primary healthcare clinic, has successfully secured $2.8 million (approximately R51 million) from IDF Capital via its Alitheia IDF Fund (AIF). This investment is earmarked to fund ALMA’s expansion strategy, which aims to grow the number of operational clinics from 6 to 35 across South Africa within the next three years.
“We are thrilled to receive this investment from IDF Capital,” said Sibongile Manganyi-Rath, CEO and founder of ALMA Clinics. “Our mission is to make quality healthcare more accessible and affordable for millions of Africans, and this funding will allow us to reach even more communities.”
ALMA’s innovative business model integrates advanced technologies into a nurse-led environment, focusing on preventive care through strategic locations in shopping centers. Their digital platform facilitates virtual doctor consultations, prescription management, and patient education via an app. This model not only aims to provide quality care at affordable prices but also to alleviate the burden on public health facilities and expensive private practices.
Why the Investors Invested
The potential to significantly impact the South African healthcare sector was a primary motivator. ALMA’s model promises to reduce the strain on public health systems by offering affordable healthcare options in underserved areas, which aligns with IDF Capital’s social impact goals. The imminent implementation of the National Health Insurance (NHI) scheme presents a timely opportunity for ALMA to integrate and expand within this new healthcare framework, providing equitable services to a broader population.
The startup has recorded considerable traction. Founded in July 2020 by CEO Sibongile Manganyi-Rath, ALMA Clinics emerged during the COVID-19 pandemic, initially establishing a clinic in Protea Soweto, an underserved township. Currently, ALMA serves over 4,000 patients monthly through its six clinics, with a vision to increase annual patient visits to 300,000 by 2028. The investment also promises substantial economic benefits. By expanding to 35 clinics, ALMA will create at least 232 permanent jobs, primarily for women, in addition to numerous temporary construction jobs. This focus on employment generation aligns with IDF Capital’s objective to foster job creation and support gender equity in the workforce.
Furthermore, ALMA’s founder and CEO, Sibongile Manganyi-Rath, brings a proven track record of entrepreneurship and dedication to improving healthcare access. Her leadership and the company’s strategic approach make ALMA a promising candidate for growth and sustainable success. Polo Leteka, CEO of IDF Capital, will join ALMA’s board, providing strategic guidance to navigate the company’s rapid expansion.
“We believe ALMA Clinics is a game-changer in the healthcare industry,” said Polo Leteka, CEO of IDF Capital. “Their innovative approach to patient care, combined with their commitment to social impact, aligns perfectly with our investment strategy.”
A Look at ALMA Clinics
ALMA Clinics was founded in July 2020 by Sibongile Manganyi-Rath, a seasoned entrepreneur with a passion for accessible healthcare. The primary markets for ALMA are underserved communities in South Africa, particularly those in townships and lower-income areas. The startup aims to transform healthcare delivery by integrating advanced digital solutions within a nurse-led framework. ALMA’s clinics are strategically located in shopping centers to maximize accessibility and convenience for patients.
The healthcare model employed by ALMA is unique in its emphasis on preventive care and patient education, facilitated through a robust digital platform. This platform supports virtual consultations, medication management, and provides patients with valuable health information. The interactive nature of the app ensures continuous patient engagement and education, fostering better health outcomes.
ALMA’s clinics are designed to provide a welcoming and professional environment, making quality healthcare accessible at competitive prices. This approach not only helps to draw patients from overstretched public health facilities but also offers an affordable alternative to traditional private practices.
With the support of IDF Capital, ALMA Clinics is poised for significant growth, aiming to establish itself as a leading provider of primary healthcare in South Africa. The expansion plan includes the creation of numerous job opportunities and the provision of quality healthcare to a larger segment of the population, contributing to the overall improvement of the national healthcare landscape.
