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Healthbridge, the Johannesburg-based HealthTech company, has acquired a strategic stake in Durban-based HealthTech startup Alchemed. This move is expected to strengthen their four-year partnership and speed up the creation of AI software for South Africa’s specialist surgeons.
The investment amount was not disclosed. The announcement follows Healthbridge’s acquisition of Nora, an AI medical scribe that helps doctors save up to three hours a day by automating clinical paperwork.
Healthbridge is investing to support South African HealthTech innovators instead of creating everything on its own. Founded in 1999, Healthbridge offer real-time claims processing. It has developed a cloud-based platform for clinical and billing services used by over 7,000 medical professionals nationwide.
Since February 2022, Alchemed has been Healthbridge’s main partner for orthopaedics, allowing for better collaboration on product development and more opportunities to improve specialised healthcare technology in South Africa.
Founded in 2018 by orthopaedic surgeon Dr. William Haynes and software entrepreneur Darryl Smith, Alchemed was born from a practical challenge inside a working medical practice.
Dr. Haynes approached Smith to help automate routine administrative processes in his own practice, and what began as a workflow solution evolved into a cloud-based practice management platform supporting 23 different medical specialities across the patient journey.
The company has maintained a 70% annual recurring revenue growth rate over the past two years.
“We invested in Alchemed because it combines deep clinical insight with a modern AI-first approach to innovation. Having established a strong foothold among orthopaedic surgeons alongside Alchemed, we are now well positioned for expansion into other surgical specialities,” said Luis da Silva, CEO of Healthbridge.
At present, Alchemed supports 23 different medical specialities across the patient journey, from appointment scheduling and clinical notes to prescriptions, billing and practice analytics.
In South Africa, specialist surgeons face unique challenges with documentation and billing that typical practice management software may not handle well.
“Alchemed was born inside a working surgical practice from a simple frustration: too much time spent on administration and not enough time spent with patients. Healthbridge brings the scale, reach and healthcare expertise needed to take that solution to many more specialist clinicians across South Africa,” said Dr William Haynes, CEO of Alchemed.
For existing Alchemed customers, the team, products, and support channels remain unchanged, with the investment providing additional resources to accelerate product development and innovation.
