Xcelerate takes control of med-tech firm AfiyaSasa; Invicta buys UK’s KMP

 Xcelerate takes control of med-tech firm AfiyaSasa; Invicta buys UK’s KMP

Xcelerate Inc has signed an agreement to acquire a 51% stake in AfiyaSasa Africa LLC, a medical technology and virtual health company, for an undisclosed amount.

Founded by neurosurgeon Dilan Ellegala and Doyle Word, AfiyaSasa offers technology that’s centred on software that uses and incorporates artificial intelligence and augmented reality developed by AdviNOW. The application connects people in remote areas where there is limited medical infrastructure or medical professionals.

“ASA (AfiyaSasa) is uniquely positioned to help the people of Africa meet their medical needs by extending the reach of physicians to their patient’s mobile devices through a patented breakthrough technology,” said Michael O’Shea, Xcelerate’s CEO.

Xcelerate said that patients can access the ASA system on their mobile phones, tablets, or computers. The system allows physicians to conduct initial check-in, triage, and determine the appropriate care path, virtually.

The system is equipped with facial recognition and storage capability. Additionally, through a set of questions and answers that are integrated with the system’s AI component, measurements are taken with medical devices such as stethoscope, thermometer and pulse oximeter connected to a phone, tablet, or computer. The AI assists with questions and helps arrive at diagnostic possibilities, testing and treatment options for the patient.

Invicta-KMP

Johannesburg-listed Invicta Holdings has entered into an agreement with International Holdings and Investments SA and Chen Chin Linn to acquire KMP Holdings Ltd for ₤12.5 million ($17 million).

KMP supplies aftermarket heavy-duty diesel engine parts for industrial and agricultural machinery. Its main distribution facilities are located in Chertsey (UK) as well as Houston and Miami (US). The firm was established more than 20 years ago and has a customer base in more than 150 countries.

KMP-branded products include aftermarket parts sourced from over 300 regular suppliers for labels like Komatsu, Caterpillar, Cummins, Perkins, Detroit Diesel and John Deere engines.

KMP posted a net profit of ₤1.1 million during 2020. The transaction adds to the existing exposure in the business via Invicta’s subsidiary Equipment Spare Parts Africa (Pty) Ltd, which is a major customer of KMP.

Vivek Sinha

error: Content is protected !!
The Capital Quest