I had a media chat with MDaaS Global Founders – Mr. Soga Oni (CEO/Co-Founder), and Genevieve Barnard Oni (CFO/Co-Founder).
There are actually four Founders of MDaaS Global – a health tech company that secured an initial total $1Million seed funding for her operations.
Out of a co-working location at the Venia Hub, Providence House, Admiralty Way, Lekki in Lagos, the main core of the team – about six staff – operates and runs the affairs of the company.
I was promptly ushered into the board room by Co-Founder Genevieve Oni. Everyone of the staff was busy working on their computers.
It was my impression that MDaaS Global appears to place a premium on professionalism with a touch
As we discussed matters relating to Nigeria’s health tech space, topics on the brain drain of Nigeria’s best minds, and access to funds for the execution of projects by Founders of health tech companies in Nigeria topped my chat with Genevieve.
Mr. Soga Oni joined in after concluding an important business call.
The interview kicked off immediately after a light chit-chat.
Oluwasoga Oni popularly called Soga, a software engineer graduate from Covenant University, had his Masters Degree in Electrical Engineering from the Illinois Institute of Technology and a Masters Degree in System Design and Management from MIT.
As the MDaaS CEO, Soga oversees business activities in both the US and Nigeria, with a focus on building partnerships with suppliers, hospitals and clinics, employers, and health insurance providers in Nigeria.
Genevieve Oni, a graduate from MIT Sloan and Harvard Kennedy School where she concentrated on finance and operations. Genevieve worked in health system strengthening with the UN Development Program in Uganda, served as Program Manager for Babson College’s Global Healthcare Entrepreneurship program.
I asked a number of questions about MDaaS operations in Nigeria and her experience working in Nigeria.
MDaaS Global originally started out as a medical equipment supplier to hospitals and diagnostic centers that predominantly served high-income patients.
MDaaS Global was in partnership with Coast 2 Coast Medical in Massachusetts from where they buy refurbished medical equipment in bulk and supply to end users in Nigeria.
This posed a major challenge to the team.
How can this structure be made to serve low-income communities and yet maintain profitability?
Different financing options to get their equipment to poorer clinics, including offering to lease or rent out the equipment was tried, but did not scale and was unsustainable.
Hence the pivot to the current business model operated by MDaaS Global, that keeps prices low and maintain topnotch services to clients.
By partnering with dozens of nearby hospitals and clinics to get patient referrals, the MDaaS clinic has diagnosed more than 10,000 patients since opening less than two years ago.
Now, fresh off a $1 million funding round, the company is planning to export its model to other areas of Nigeria and West Africa, with the goal of operating 100 diagnostic centers in the next five years.
“We’re trying to build four diagnostic centers [by early next year] and show that the new centers will have the same trajectory as our first,” Soga says.
Osogbo and Ilorin are being favored for the next phase of diagnostic centers.
“After we’ve proven that, we can start building for scale, building maybe two or three centers a month all over Africa, the idea being we know exactly how things will go when you build them.”
In the long run, MDaaS Global plans to build at least one diagnostic center in each of the local government areas in Nigeria.
DoctorsQuarters.com would be following events as they unfold at MDaaS Global. Indeed, health startups are looking bright and fruitful.