Arab News, Monday, Aug 23, 2021 | Muharram 15, 1443
Saudi healthtech startup Clinicy eyes local expansion after latest investment round
Saudi health technology
startup Clinicy has closed a seven-figure pre-series A investment round led by
private equity firm Mad’a Investment Company, it announced on Sunday.
The startup provides a health management system
that takes care of bookings, appointments, and patient management.
It will use the recent investment to integrate its
platform with medical institutions in the Kingdom. Actual figures were not
disclosed by the company.
“This investment will allow us to scale the number
of medical institutions and patients using Clinicy and further support our vital
healthcare sector. We are proud that Mad’a Investment Company has confidence in
Clinicy’s successful model,” its co-founder and managing director, Talal Waleed
The integration means the platform will reach more
patients, he explained, as health care in the region becomes more influenced by
“As we have all seen over the past year during the
pandemic, healthcare is one of the most important sectors for society. We are
pleased to invest in a homegrown Saudi startup that provides excellence in
digitizing healthcare management and is a first-of-its-kind in the Kingdom,”
Mad’a Investment Company chief, Abdullah Abdulaziz Al-Othaim, said.
Clinicy aims to address three challenges in the
Kingdom’s health care sector, such as missed appointments, high administrative
operating costs, and the lack of patient communication.
It said “no-show” rates cost the country around SR
2.2 billion ($600 million) annually.
Ever since its founding, the startup claims it has
already reduced no-show rates by up to 40 percent.