Medico Gets Initial Funding from East Ventures

SaaS-based hospital management service Medico announced the acquisition of seed funding, for an undisclosed amount, from East Ventures. Funding will be used to recruit talent and improve the quality of the system so that it is ready to launch early in the second quarter of this year.

Medical founded by Grace Tahir and Jonathan Susantyo. Both of them have been involved in the world of health services for a long time. Besides taking care of Medico, Grace also founded Doctor.id, an online health consulting site that has received funding from RingMD.

According to data collected by Medico, currently spending on healthcare information technology systems reaches $2 billion and will grow to more than $6 billion in 2019. Health services in the form of hospitals, clinics, and pharmacies now reach nearly 30 thousand units and are projected to increase 10-13% in the next 5 years.

The hospital's obligation to own and maintain this system itself has been regulated in Law Number 44 of 2009 concerning Hospitals and Regulation of the Minister of Health of the Republic of Indonesia (PMK) Number 82 of 2013 concerning Hospital Management Information Systems.

By offering SaaS-based services, Medico tries to provide a different perspective because so far the system is usually developed and maintained by third-party consultants, but the servers are usually located on the local network.

Medico is estimated to be ready for operation in April 2016.

About this funding, Managing Partner of East Ventures Willson Cuaca said, "The potential of healthcare services in Indonesia has long been underestimated. The poor user experience in hospitals and clinics is widely shared by us in the media. We believe Grace and her team have the ability to overcome these problems and bring [technology-based] healthcare to the next level. next."