Digital payment giant, Interswitch Group has acquired Nigeria and Swaziland-based eClat Healthcare Limited, the health technology company focusing on improving healthcare delivery in Africa.
eClat started in 2012 by assisting healthcare service providers to plan, design, and operate efficiently mainly via their flagship product, eClinic, with immunisation, antenatal, and electronic billing functions. Since then, the company claims 250 private and public healthcare facilities in the country have used its Electronic Health Record (EHR) platform.
According to a press statement released by the payment company, the deal was finalised on the 30th of September, 2019. The nature of the deal was such that Interswitch acquired a 60% stake in eClat by purchasing shares from current shareholders and subscribing to the new shares issued.
In a country where the healthcare system battles with operational inefficiencies when it comes to paying promptly to access healthcare, this acquisition might come in handy for stakeholders as the eClat users will access what Interswitch is best known for, seamless payments.
Very pleased to announce our strategic #acquisition of eClat Healthcare, a Nigeria-based #health #technology venture that aims to improve #healthcare delivery in #Africa, in a deal completed on September 30, 2019. Read the full #PressRelease https://t.co/h0J5Lk3Ckl pic.twitter.com/6nVJgnCX4q
— Interswitch Group (@InterswitchGRP) October 31, 2019
After acquiring payment companies Paynet Group and VANSO in 2015 and 2016 respectively, Interswitch’s acquisition of eClat represents a different approach and market in expanding its product offerings but CEO, Mitchell Elegbe, says it is all in the long-term plan of the company.
“We are a technology company that is innovating to deliver value across sectors that are critical to Africa’s social and economic development, our acquisition of eClat demonstrates strong progress along this strategy and alignment with our corporate vision.”
eClat Healthcare was founded by Dr. Wallace Ogufere.
On January 27, 2021, Techpoint Africa will be hosting the brightest minds in decentralised finance/crypto at the Digital Currency Summit tagged “Building the money of the future” Click here for more details, registration and sponsorship.
Report: Millionaire West African startups” raised over $1.806 billion between 2010 and 2019, 97.9% of which went to Nigerian startups. Get a free overview and 50% purchase discount here.
Listen to Built in Africa, a podcast by Techpoint Africa