Innov8 Group Holdings, a South African private equity firm focused on bringing innovative technologies to the African medical industry through its investments, is proud to announce its successful partnership with an Irish-based fund and family office.
The partnership has resulted in the company being externally valued in excess of R250-million, with initial seed investors seeing a 60% return on a partial exit, as well as significant capital appreciation.
“The performance is testimony of the company’s skill and ability to manage the allocation of funds as well as strategic and operational input to underlying businesses yielding top line growth accompanied by strong cash returns,” says Abdul Malick Salie, co-founder of Innov8 Group Holdings.
The company’s founders, Dr Chad Marthinussen and Abdul Malick Salie CA collectively have almost three decades of experience in both the corporate finance and investment space, as well as healthcare and technology industries between them.
“One of our key objectives is developing the real useable datasets and data infrastructure from our medical imaging, primary care, virtual care and biotechnology products and services allowing our technology and AI teams based both locally and internationally to harness the information creating enhanced and innovative solutions for the medical market,” says Dr Marthinussen.
Innov8 Group Holdings is also focused on expanding its asset base, with plans to offer local partners, investors and institutions the opportunity to share in its journey.
Salie adds: “The investment roadmap is defined and we will continue to grow our assets organically, through acquisitions and with strategic partnerships, one such partnership has recently been concluded with a pharmaceutical and medical device group for our ultrasound platform. This partnership sees significant base revenues being generated and this along with our latest capital partnership we are empowered to execute on our planned roadmap.”
The healthcare technology and biotechnology industry in Africa represents a vast and untapped market, with a rapidly growing population and increasing demand for access to quality healthcare. The continent’s population is projected to reach 1.7 billion by 2050, and with the current infrastructure and resources, it is challenging to meet the growing demand for healthcare services. This presents a significant opportunity for investment in healthcare technology and biotechnology, as new and innovative solutions are needed to address the continent’s healthcare challenges.
Innov8 Group Holdings is the parent company of several subsidiaries, including Innohealth Technologies, a healthcare holding company controlled and led strategically by Dr Chad Marthinussen and Abdul Malick Salie, which then controls several subsidiaries that operate in various verticals of the healthcare industry. MyPocketHealth is a virtual care platform developed internally by Innohealth that offers telemedicine and virtual care to the masses, Innohealth Clinics is a rapidly expanding digital-first Dr lead, affordable primary care company. U-Image Africa is a South African developed wireless ultrasound ecosystem focused on making POCUS accessible to all healthcare providers, AI Biologics Africa is an AI biotechnology platform focused on streamlining the IVD and vaccine development industry. Social Medical is a healthcare marketing agency that oversees all the entities in the group as well as offers services to other industry players, Innov8 Property, is a healthcare-focused property company.