Interswitch expands presence in health-tech space through acquisition of eclat
Interswitch Limited, a leading technologydriven company focused on the digitisation of payments in Nigeria and other African countries, has announced the acquisition of eclat Healthcare Limited, a Nigeria-based health technology company that aims to improve healthcare delivery in Africa. The deal was completed on September 30, 2019, and it involves Interswitch acquiring a 60 percent stake in eclat through the purchase of shares from current shareholders and subscription to new shares issued by the company.
Founded in 2012, eclat Healthcare Limited specialises in assisting healthcare service providers in planning, designing and operating their unique practices through the deployment of its bespoke healthcare technology platform, designed specifically for the healthcare environment in Africa. eclat’s healthcare technology platform, consists of a core e-clinic software (including electronic billing, immunisation, antenatal and care pathway functions), as well as a variety of additional specialist modules. Prior to the acquisition, eclat’s platform had become a leading Electronic Health Record (EHR) platform used in over 250 public and private healthcare facilities in Nigeria.
Nigeria’s healthcare system currently lacks adequate funding and a national framework, leading to operational inefficiencies. Interswitch’s strategic investment in healthcare technology aims to address these challenges by modernising the healthcare sector in Nigeria and eventually in Africa through its innovative products and services. The combined product offerings of Interswitch and eclat are expected to, amongst other things, enable operators in the healthcare sector develop new capabilities, improve the efficiency of their core operations and facilitate seamless payments.
Due to the growing adoption of Interswitch’s healthcare product offerings by the operators, Interswitch’s healthcare technology platform aims to be one of the top industry platforms in Nigeria, which can be utilised as a major data source by healthcare policy makers for planning and efficiency improvements in the sector. As a result of this acquisition, the combined healthcare technology solutions are expected to position the Interswitch group as a health-tech solution and payments provider of choice to the healthcare industry going forward.
“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,” Mitchell Elegbe, founder and group managing director/chief executive officer of Interswitch, said on the transaction.