SoftBank made an undisclosed Series B investment in iClinic, a Brazilian healthtech platform focused on providing electronic health records, as well as marketing and billing services to independent medical practices.
(Contxto) Looking out for the little guy has brought a big investor to a Brazilian healthtech’s table.
Yesterday (23), news broke that SoftBank made an investment in iClinic. The value of the Series B round was undisclosed. But the startup did say it plans to scale as well as wrap up a few M&As. It even reportedly hopes to close three acquisitions by year’s end.
Considering these growth plans, I’d bet it was a very big investment SoftBank made.
By building software that help independent doctors, rather than clinics or hospitals, iClinic wants to help an oft-ignored segment in the healthcare industry.
iClinic wants the all-in-one?
At the moment, its core products are two SaaS (software as a service) solutions. The first is a visitor management system. The other is a software program for overseeing and tracking medical records. Two major pain points for any doctor with multiple patients but limited help.
These services aside, its portfolio of products also contains a system for managing their finances, marketing software, as well as a telemedicine platform launched as the pandemic began.
iClinic states it currently has 22,000 independent doctors using its solutions, which equals a market share of 7.5 percent. Nonetheless, the startup plans to do some serious scaling in the near future.
It will partner with other institutions—like fellow-healthtech like Memed—as well as develop new products, it wants to reach a far larger market. iClinic also intends to launch a marketplace, a platform for docs to stay updated, as well as more financial services.
The startup believes that these strategies will lead to growing its addressable market.
“In the next two and a half hears, we want to have 100,000 customers. The goal is to end 2020 with a third of that number,” said Felipe Lourenço, CEO at iClinic.
If you’ve been reading between the lines, it’s clear the startup wants to be the all-in-one for independent doctors.