Myanmar based health-tech company MyanCare has raised US$ 600K investment in a funding round.
The round was led by Japan’s Investment group SPARX. Japanese Information technology firm Scala and pharmacy drug store AIN holdings also participated in the funding round. MyanCare had secured an undisclosed amount in its pre-series A funding from SPARX group.
The funds will be used to boost MyanCare’s market-leading position in the telemedicine industry of Myanmar. It is also looking to expand the coverage of its services locally.
MyanCare was founded in 2018 by Ko Zaw Min Tun (CEO). Previously, Zaw Min used to work with Ericsson as a Regional Manager. He has done his MBA from Yangon University of Economics. In 2017, Zaw Min received a special advice from Dr. Thein Aung, a professor in Medicine and the founder and chairman of Parami Private Hospital Group. Further, he said to Zaw Min that the future of the medicine industry lies in using technology to make healthcare available anywhere and everywhere. This advice was the start of Myanmar’s first telemedicine application, MyanCare.
MyanCare is a telemedicine company with two core businesses, MyanCare Healthcare app and YinThway paediatric medical call service. It is a platform between doctors and patients, helping them save time, cost and energy. Through MyanCare, doctors can search patient’s health records, treatment history and other necessary information. Electronic medical records are stored maintaining utmost privacy in the company’s database.
The doctors at MyanCare give opinion on health, future tests, or prescription or lifestyle tips. Therefore, patients don’t have to travel anywhere for minor health issues, as they can consult a doctor anywhere and anytime.
YinThway call service and MynCare app
Moreover, the YinThway paediatric call service provides round the clock consultancy with the paediatricians with the help of telecom operators. It handles more than 2K consultations in a week, especially during the pandemic.
The MyanCare healthcare app features online appointments with the general practitioners and specialists as well as voice, video, or chatting consultation directly with the doctors via the app. After opening the app, one can see a list of doctors and can select any suitable doctor according to their needs. Doctors’ profiles are available on the app as well. While booking an appointment, the patient can choose the service type among – Video Consultation, Voice Consultation and Text Consultation.
The MyanCare platform has more than 200 doctors and 26 different medical specialties so far. “We are serving patients every 7 minutes these days. During COVID-19 period from March to June, we were able to provide quality consultations countrywide and it is still going on”, said CEO Zaw Min Tun.