ImpactAlpha, November 4 — The round was co-led by Singapore’s Temasek, Brazilian financial services company Fit Participacoes and DNA Capital, a Sao Paulo-based health venture investor that recently bought out the company from its previous shareholders.
Monashees, one of those investors, is currently in the market with a pair of funds looking to raise $350 million each (for context, see “Brazil’s Monashees targets $700 million for early- and growth-stage impact”).
Memed’s software tech is used by around 150,000 doctors and 200 health partners — hospitals, healthcare and telemedicine providers, and electronic medical companies — to prescribe medication for more than 2.2 million patients monthly.
The platform also helps patients purchase medications via its growing database of 60,000 registered medicines. The financing will allow Memed to scale up its platform to “generate more value for partners,” said CEO Joel Rennó, Jr.