Health-tech Startup Zi.Care secures Series A Interest to be led by the Oriza Greenwillow Technology Fund
Jakarta – Zi.Care, an Indonesian medical technology start up specialising in Electronic Medical Records (EMR) for hospitals and healthcare has received a Letter of Intent (LOI) from the Oriza Greenwillow Technology Fund, a venture capital fund based in Singapore as the Lead Investor in the USD$3 million Series A funding raising round. Zi.Care’s EMR solution is now implemented across more than 100 hospitals units across Indonesia, and is expected to expand its reach in the coming year with the Indonesian’s government push towards increasing digitalization across the healthcare sector.
The LOI Signing Ceremony held on 13 April 2023 was witnessed by Government Officials from the Ministry Of Health along with their Digital Transformation Office (DTO), Ministry of IT Communication & Information (KOMINFO), Hospital Associations, and other healthcare stakeholders, showing strong support from both the Government and Key Healthcare Stakeholders for Zi.Care’s solution.
Founded in 2017, Zi.Care aims to digitize every aspect of day to day hospital and healthcare facility operations with its HIMSS-accredited Stage 7 Electronic Medical Record Adoption Model. Beyond the EMR systems, Zi.Care has also expanded its solution offerings to cover Hospital Information Systems for administration, doctor/staff rostering, clinical support solutions, claims management, and telehealth services to improve the quality and efficiency of healthcare across the country.
In Indonesia alone, there are more than 3,300 hospitals, 10,000 clinics and 270 million patients, and Zi.Care hopes to expand its affordable and comprehensive EMR solution across this market. With the new Series A funding, Zi.Care aims to strengthen its commitment to digitalize health care facilities across Indonesia, by implementing its solution across more hospitals and community healthcare institutions. This is supported by the Ministry of Health Regulation No. 24 issued in August 2022 which set out the new regulatory framework for implementing healthcare technology transformation nationwide. Under this regulation, all hospitals, clinics and relevant healthcare facilities will be required to adopt EMR technologies in their facilities by 31st December 2023.
Attesting to the company’s impressive market penetration in local hospitals despite the Covid-19 pandemic, Mr Loh Wai Keong, Managing Partner of Oriza Greenwillow Technology Fund commented: “It is our privilege to lead Zi.Care’s Series A round together with the dedicated and experienced team of founders to digitalize the Healthcare Industry across Indonesia. We believe that Zi.Care’s EMR solution has huge growth potential in the Indonesian healthcare industry and will be crucial in digitising the public health services for medical professionals and patients.” Moving forward, the Oriza Greenwillow team will continue to support Zi.Care as they guide the company to chart out their strategic growth plans in the coming years to continue to grow its platform and product offerings.