Digital Barker
  • Home
  • Startups
    • News
    • Opportunities
  • Tech
    • Tech Support
  • Videos
No Result
View All Result
Digital Barker
  • Home
  • Startups
    • News
    • Opportunities
  • Tech
    • Tech Support
  • Videos
No Result
View All Result
Digital Barker

Interswitch acquires healthcare company eClat

Shola by Shola
November 5, 2019
0

Nigeria’s leading e-payments giant Interswitch has acquired a majority stake in healthcare technology company, eClat.

The deal completed in September means Interswitch is staking for a place in the electronic health records and mobile clinics space in Nigeria. Integrating its famed payments infrastructure with eClat’s seven-year experience in providing support services to healthcare service providers, it could prove an innovative combination from one of Africa’s biggest companies. eClat currently operates in Lagos, Oyo, Edo, Delta, Enugu and Ondo states.

By acquiring shares from current shareholders and subscribing to the newly issued shares, Interswitch now owns a 60% stake in eClat Healthcare Limited. The payments company sees its latest acquisition as a vehicle for addressing Nigeria’s long-standing challenges in healthcare delivery. 

How to use chatGPT to make money

ADVERTISEMENT

“The combined product offerings of Interswitch and eClat are expected to, amongst other things, enable operators in the healthcare sector develop new capabilities, improve the efficiency of their core operations and facilitate seamless payments”, according to a company statement announcing the acquisition.

Interswitch’s move marks the second major acquisition in the Nigerian health tech space in recent times. As the global discourse on development highlight the need for governments to ease and democratize access to quality healthcare for its citizens, it is noteworthy to see a leading technology company take an active role. 

Mitchell Elegbe, Interswitch’s CEO, says his company’s expansion into healthcare reflects an ambition “to provide customers with greater access to healthcare across different interaction points beyond hospitals, such as at pharmacies and primary health care facilities, providing much-needed services to patients across Nigeria and, in the future, in Africa”. 

While its most recent acquisitions – VANSO and Paynet – have been financial services startups at their core, eClat represents an entry into more lifestyle-related products for Interswitch. It is perhaps a sign of things to come as they look to strengthen their place in the fintech industry where smart, ambitious upstarts are rising to cater to a generation of digital-first consumers.

Interswitch is reportedly scheduling a dual-listing in London and Lagos before year-end. Share sales could begin this month according to Bloomberg, and an IPO would give the company a $1.5 billion valuation.

ShareTweetPin

More Stories

Microsoft
News

Microsoft Announces 6,000 Global Layoffs to Streamline Operations and Invest in AI

3 weeks ago
Meta Image
News

Meta Clarifies Nigeria Chat Alert as Anti-Scam Measure, Not Discrimination.

3 weeks ago
AI powered Google Ads
News

Google Introduces AI-Powered Campaign Tools For African Businesses

4 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


The reCAPTCHA verification period has expired. Please reload the page.

Trending Stories

Space Universe Africa: How the new technology company wants to power the future

NDIC Set To Probe Eyowo And 182 Other Microfinance Banks

Fintech Partnerships To Reduce Remittance Costs Across Africa.

Platos Health Secures $1.4Million Pre-Seed Funding to Launch Preventive Health Device in Nigeria.

Nigeria Launches First Indigenous AI Software To Transform Education.

In a major re-brand move, Aboki Africa is now Grey!

TLcom secures $150mn Pan-African tech fund to invest in 20 startups

Tecno T528 – Full Phone Specifications and Price

President Buhari will unveil the e-Naira tomorrow

Facebook reportedly plans to change its name

  • About
  • Advertise
  • Privacy Policy
  • Contact
  • Jobs

© 2025 Digital Barker

No Result
View All Result
  • Home
  • Startups
    • News
    • Opportunities
  • Tech
    • Tech Support
  • Videos

© 2025 Digital Barker