Alitheia IDF, Africa’s first and largest gender lens fund, has announced a $2.8 million investment in ALMA CLINICS, a technology-enabled private primary healthcare service provider. This funding will support the expansion of ALMA CLINICS from 6 to 35 locations over the next 1.5 to 3 years, aiming to increase annual patient visits from 32,000 in 2023 to 300,000 by 2028.
This investment marks ALMA CLINICS’ first institutional funding and will fuel the growth of their nurse-led clinics across South Africa. The business model focuses on delivering integrated healthcare in a compassionate and professional setting, with affordable pricing targeting lower-income groups. This approach aims to alleviate pressure on overcrowded public health facilities and costly traditional GP practices.
ALMA CLINICS integrates innovative technologies into patient care, including an app with interactive features for patient education and virtual doctor consultations for advanced diagnoses and prescriptions. These technologies are supported by analytics derived from the clinic’s database.
CEO Sibongile Manganyi-Rath, who invested her time and funds into developing ALMA CLINICS and its supporting digital platform (Alma e-Health), is a seasoned, passionate award-winning entrepreneur driven by the vision of making quality healthcare more accessible, affordable, and reliable for millions of African people through innovative technologies.
Polo Leteka, CEO and Founder of IDF Capital and a co-managing partner of Alitheia IDF Fund, will be joining the board of ALMA and provide valuable insights into managing a company when it embarks on a fast growth track as envisaged.
“IDF Capital is pleased to announce its recent investment in ALMA Clinics through the AIF Fund. This investment is a significant addition to its diverse portfolio and underscores its commitment as an early-stage Gender Lens Private Equity investor to identifying innovative and dynamic tech-enabled businesses with immense growth potential and significant social impact”.
The timing of this investment is strategically aligned with the imminent implementation of the National Health Insurance (NHI), providing a vital opportunity for female healthcare providers to contribute to quality healthcare delivery, especially in underserved communities.
We are thrilled to partner with ALMA CLINICS on this journey, empowering thousands to access affordable and high-quality primary healthcare. Together, we are dedicated to shaping an inclusive healthcare landscape in Africa and driving impactful change.