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CoverSelf Secures $8.2m to Drive Healthcare Claims, Scale Operations

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CoverSelf Beenext 3one4 capital $8.2m seed funding

By Dipo Olowookere

A unified platform for healthcare claims and payment integrity, CoverSelf, has obtained an $8.2 million seed round to expand its operations in the United States and drive healthcare claims and payment accuracy.

It was gathered that existing investors in the firm, BEENEXT and 3one4 Capital, led the funding round, with Z21 ventures and healthtech leaders coming in to invest in the organisation.

CoverSelf intends to use the fresh capital to build generative AI capabilities and increase headcount in sales and marketing as the business scales, especially at a time when the exponential growth of costs in healthcare remains hotly debated.

Over $4.1 trillion is spent on healthcare every year in the US alone, with administrative spending accounting for approximately one-quarter of the total amount.

In the last 12 months, the company has piloted the platform and successfully proved the platform’s readiness and effectiveness.

This has translated to two deployments for insurers where the platform processes 25 times more claims in the same time window than was done earlier.

Also, the platform has identified significant savings even after other vendors process claims. CoverSelf is in advanced discussions with 2 of the top 15 plans to collaborate. The current pipeline includes five of the top 15.

Traditional 3rd party payment integrity solution vendors exploit payment inaccuracies, which negatively impacts the provider’s experience and trust in payers and ends up ballooning waste and improper payments. With CoverSelf, payor payment integrity teams can reduce healthcare costs transparently and collaboratively with providers.

“The current claims integrity systems are very complex, and the deployed technologies are antiquated. Significant software innovation is needed to address the broken system that is currently creating out-of-control healthcare costs and waste.

“The cobbled-together software solutions result in scattered data and the inability to make real-time business decisions.

“Administrative complexity costs billions annually, an open and collaborative platform can significantly reduce the repetitive administrative costs,” the co-founder of CoverSelf, Rajasekhar Maddireddy, commented.

“Our solution offers multiple points of integration and intervention for all pre and post-pay payment integrity, effectively reducing waste.

“CoverSelf is empowering subject matter experts (SMEs) with a modern UX/UI that’s super easy to work with and aids them by eliminating technical dependencies thereby maximizing efficiency, and fostering rapid innovation.

“Speed to release has shifted from weeks to mere hours, thanks to our collaborative approach and operational efficiency,” the co-founder of the company, Raghavendra Pawar, also said.

Also commenting, the Managing Partner at BEENEXT, Dirk Van Quaquebeke, said, “CoverSelf’s vision to democratize the healthcare claims and payment integrity industry with their fully open and transparent solution built with a spirit of collaboration is truly inspirational,” while the VP for Investments at 3One4 Capital, Sonal Saldanha, noted that, “By bringing the payment integrity solution in-house, CoverSelf shifts the control of payment integrity from traditional outside vendors to payers. As payers start using CoverSelf, they will progressively need fewer external payment integrity vendors. Ultimately, CoverSelf will be the only payment integrity platform anyone will ever need.”

CoverSelf was established in 2021 by seasoned US healthcare domain experts to democratize the healthcare claims and payment integrity industry by creating a first-of-its-kind fully open and transparent solution that empowers payment integrity teams in health insurance companies (payers) to transparently resolve health claims with hospitals and medical practices (providers).

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Codix Bio Strengthens Nigeria’s Healthcare Manufacturing With New Sagamu Factory

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Codix Bio

By Aduragbemi Omiyale

A new rapid diagnostic test (RDT) production plant has been opened in Sagamu, Ogun State by Codix Bio Limited in a bid to strengthen healthcare manufacturing in Nigeria.

The Governor of Ogun State, Mr Dapo Abiodun, commended the company for choosing the state for the factory, which he described as a transformative leap to making the country a big force in the healthcare system.

“We are proud to commission Nigeria’s first large-scale rapid diagnostic test (RDT) production facility—Codix Bio Limited—right here in Ogun State.

“Located along the Sagamu Expressway, this state-of-the-art in-vitro diagnostics factory is only the second of its kind in Sub-Saharan Africa and will produce over 147 million test kits annual for diseases such as HIV, Malaria, and Hepatitis B and C.

“This milestone marks a transformative leap in our journey to strengthen Nigeria’s healthcare system through bold investment, local innovation, strategic partnerships, and local manufacturing,” he stated.

With this facility, Codix Bio is now the first African manufacturing partner selected by the World Health Organization (WHO), SD Biosensor, and the Medicines Patent Pool (MPP) under the WHO Health Technology Access Pool (HTAP) programme.

This landmark designation places Codix Bio at the forefront of regional production for RDTs in Africa—solidifying its role as a key partner in strengthening global health security.

The new plant positions the firm within the scope of WHO’s technical support system, allowing for technology transfer, regulatory assistance, and sustained global collaboration.

Through the sublicensing agreement with SD Biosensor and MPP, Codix Bio will receive proprietary rights, technical know-how, and materials to legally develop and produce rapid diagnostic test kits based on SD Biosensor’s cutting-edge platform.

This technology enables the production of multipurpose rapid diagnostics adaptable to both pandemic and inter-pandemic periods marking a transformative milestone in increasing equitable access to healthcare in low- and middle-income countries (LMICs).

With the commissioning of this facility, Codix Bio is scaling innovation and it has positioned Nigeria and the African continent for self-reliant, sustainable healthcare solutions.

“With over 90 per cent of diagnostic kits used in Africa currently imported, this facility will significantly reduce our reliance on external supply chains, conserve foreign exchange, and create high-value jobs.

“This factory will help to solidify Nigeria’s position as a health hub in the continent and globally. This is a leap forward for our national and continental health security,” he affirmed.

“With this facility, we are not only boosting local production but also saving foreign exchange, creating jobs, and reinforcing our public health response capacity.

“We call on other investors to come onboard by producing other medical consumables needed by the various medical diagnostic groups,” the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, said.

On his part, the WHO Representative in Nigeria, Dr Walter Kazadi Mulombo, hailed the facility as a “game-changer” in Africa’s efforts toward disease control, health security, and public health advancement, saying it will improve access to timely and accurate testing and reduce dependence on imported rapid test kits.

The chairman of Codix Pharma Group, Mr. Sammy Ogunjimi, said, “We are delighted to unveil our second manufacturing plant today. But beyond infrastructure, we know that human capital is equally vital.”

He reiterated Codix Pharma’s support for regional integration frameworks, including the Africa CDC, the African Continental Free Trade Area (AfCFTA), and the African Medicines Agency (AMA).

“Once a product is approved by NAFDAC, it should move freely across Africa. Regulatory harmonization is essential to unlocking the potential of intra-African health trade,” he said.

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Ondo Governor Tasks Mothers to Become Immunisation Advocates

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polio immunisation1

By Dipo Olowookere

The Governor of Ondo State, Mr Lucky Aiyedatiwa, has urged mothers in the state to join the state government and others like the World Health Organisation (WHO) to promote vaccination.

Speaking during the 2025 African Vaccination Week at the Comprehensive Health Centre in Isolo, Akure on April 24, 2025, Mr Aiyedatiwa, represented by his Special Adviser on Health, Professor Michael Sinmidele Odimayo, charged mothers to become immunisation advocates.

“Inform those ignorant about vaccination and its importance. Vaccination is a human right,” the Governor said, highlighting the state’s health priorities, including free Hepatitis B treatment and the expansion of the health insurance scheme.

Delivering WHO’s goodwill message on behalf of the Country Representative, Dr Walter Kazadi Mulombo, Dr Adebayo said, “The African Vaccination Week is a reminder of WHO’s commitment to ensuring every child has access to life-saving vaccines.

“Immunisation is a human right, and this year’s theme is a powerful call to action. We appreciate all caregivers and partners championing this cause.”

Business Post gathered that about 70 children were immunised and administered doses of the Oral Polio Vaccine (OPV), Rota vaccine, and Vitamin A.

To encourage continued participation and advocacy, all 70 caregivers received diapers as incentives and were recognised as immunisation champions.

One of them, a 30-year-old Ajibola Ibukunoluwa, said vaccination is a must, stressing that, “Immunisation reduces mortality in children, and I’ll keep encouraging others to get their children vaccinated. The vaccination week has helped raise awareness among mothers.”

Another caregiver, Mrs Hassan Olayinka, whose 9-month-old baby received the measles, yellow fever, and meningitis vaccines at the event, expressed her gratitude to the government, WHO, and partners for making the vaccines accessible and available to children in the country.

“Immunisation is a very powerful tool. It prevents children from falling sick. I am happy with the services I received today and will advise mothers in my neighbourhood to take it seriously. I thank the State Government and partners like WHO for organising this,” she stated.

The immunisation programme was organised by the state government through the Ondo State Primary Health Care Development Agency (OSPHCDA), in collaboration with WHO, Clinton Health Access Initiatives (CHAI) and UNICEF to mark the 14th African Vaccination Week themed Immunisation for all is Humanly Possible.

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Stanbic IBTC Intensifies Fight Against Malaria, Impacts Over 5,000 Lives

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malaria WHO

By Modupe Gbadeyanka

Over 5,000 lives were impacted through the nationwide malaria initiative of Stanbic IBTC Holdings Plc across Enugu, Delta, and Kano States last month.

The company delivered free malaria testing and diagnosis; administration of treatment drugs to those who tested positive; awareness talks on malaria prevention and distribution of long-lasting insecticidal nets (LLINs) to residents of the communities visited by its team.

The programme was in commemoration of World Malaria Day 2025 themed Malaria Ends With us: Reinvest, Reimagine, Reignite, which was used to call for renewed commitment to malaria prevention and control efforts.

It was gathered that on April 25, Stanbic IBTC was at Nchatancha in Enugu East Local Government Area (LGA), and went to Okpanam in the Oshimili North LGA of Delta State on April 28, and climaxed the visit to Wudil Ward in Wudil LGA, Kano State on April 30.

“We are proud to support World Malaria Day 2025 and contribute to global efforts to control and eliminate malaria.

“Our partnership with stakeholders has helped raise awareness about the disease; promote prevention and control measures; and inspire action towards achieving a malaria-free world,” the acting chief executive of Stanbic IBTC Holdings, Mr Kunle Adedeji, stated.

The initiative comes at a critical time when sustainable investment in malaria prevention is needed to protect vulnerable populations.

According to the World Health Organization (WHO), there were an estimated 263 million malaria cases and 597,000 deaths worldwide in 2023 – representing about 11 million more cases compared to 2022.

Nigeria bears a disproportionate burden of the disease, accounting for 30.9 per cent of all malaria deaths in the WHO African Region. Children under five years old account for approximately 76 per cent of all malaria deaths in the region, making timely interventions crucial for survival.

Through its comprehensive programme, Stanbic IBTC continues its long-standing commitment to promoting health, well-being, and sustainable development in the communities it serves. By focusing on grassroots engagement, the financial institution ensures that life-saving information and resources reach those most at risk.

The campaign represents a model for effective corporate intervention in public health challenges. By supporting prevention, early diagnosis, and effective treatment strategies, this initiative helps save lives and strengthens community resilience against this preventable and treatable disease.

Stanbic IBTC’s malaria intervention aligns with global efforts that have averted an estimated 2.2 billion cases of malaria and 12.7 million deaths since 2000, according to the WHO.

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