Rivia, a Ghanaian healthtech startup, has made a significant move to enhance healthcare digitization by acquiring Waffle, a software-as-a-service provider catering to small and medium-sized businesses (SMEs). This acquisition aims to modernize primary care clinics and streamline operations in the healthcare sector.
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The acquisition comes at a time of significant growth in the digital health sector in Ghana. With the adoption of digital health solutions on the rise, the market is projected to reach a revenue of $171 million in 2024 and exceed $250 million by 2028. There is also a growing trend in the adoption of telemedicine services to improve healthcare access in remote areas across Ghana.
Under the new ownership, Waffle’s hospital management and inventory tools have been rebranded as RiviaOS. Victor Nara, the founder of Waffle, has joined Rivia as the Chief Technology Officer, bringing his expertise to further innovate and optimize the digital healthcare solutions offered by the company.
Rivia, founded by Isidore Kpotufe, former Treepz CMO, in January 2024, is dedicated to partnering with clinics to provide comprehensive support encompassing management, technology, financing, and customer acquisition. The startup operates on a commission-based model, receiving a share of revenue generated by partner clinics. Notably, one of Rivia’s terms for affiliating with partner clinics includes co-branding.
The acquisition of Waffle occurred within just three months of Rivia’s launch, signaling the startup’s rapid expansion and strategic focus on enhancing its service offerings. RiviaOS, the newly integrated Healthcare-as-a-Service (HaaS) solution, encompasses features such as appointment scheduling, service storefronts, consultations, and employs artificial intelligence for health diagnosis, e-pharmacy, e-lab services, vital sign capture, billing, and inventory management.
In a statement regarding the acquisition, Kpotufe emphasized the valuable insights and expertise brought by Waffle’s CEO, which facilitated the deal. Meanwhile, Victor Nara highlighted the shared values between Rivia and Waffle, expressing optimism about leveraging combined strengths and resources to deliver increased value, options, and opportunities for clinics, customers, partners, and employees.
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