ISN Medical has declared that it is investigating local production of medical goods in Nigeria and preparing for further expansion throughout Africa.
Felix Ofungwu, the managing director and chief executive officer of ISN Medical, revealed this during a hybrid media briefing in Lagos. He characterized Nigeria’s healthcare market as one of the most difficult to operate in because of the country’s low health insurance coverage and high patient out-of-pocket expenses.
He claimed that the majority of Nigerians still pay directly for healthcare services, making the industry extremely price-sensitive, in contrast to nations like Rwanda and the UK, whose healthcare systems are more structured.
The Nigerian healthcare industry is intricate. Over 90% of people still pay for their care out of pocket, which puts pressure on both patients and healthcare professionals, according to Ofungwu.
He said that the organization stands out in the healthcare sector because it uses globally recognized standards, such as ISO 9001 and ISO 13485 certifications.
He continued by saying that the company primarily provides consumables, reagents, and diagnostic equipment used in hospitals and labs to verify medical diagnosis.
People with diabetes use Accu-Chek, one of our well-known products, to check their blood sugar levels. Ofungwu added, “We also offer test kits for malaria and other illnesses.”
Additionally, he said, the corporation runs a division that focuses on managing chronic illnesses for individuals with diabetes, hypertension, and renal disease, and it supports disease research facilities.
Every piece of equipment we supply can be maintained and repaired by our in-house engineers. Additionally, we teach medical professionals how to operate these technologies correctly,” Ofungwu stated.
Speaking on the company’s Life Sciences business, Ofungwu stated that ISN Medical was working to move beyond diagnostics into personalized care by providing cutting-edge genetic sequencing solutions, such as paternity testing services.
He revealed that the business currently services clients in 21 African nations and has employees in four West and Central African nations.
The CEO of ISN Medical stated that the company’s consumer healthcare portfolio would be expanded and local operations around the region will be strengthened in the upcoming growth phase.
Ofungwu stated, “Our goal is to take the lead in positively transforming healthcare throughout Africa.”
Speaking as well, Rodolph Vetchenou, Director of Life Sciences at ISN Medical, claimed that incorporating genomics and artificial intelligence into diagnosis and treatment would enhance healthcare delivery, lower treatment costs, and decrease medical errors in Nigeria.
According to Vetchenou, artificial intelligence is now crucial to modern genomics, especially when it comes to analyzing massive amounts of genetic data produced by DNA sequencing.
“A lot of data is produced when DNA is sequenced. AI is the only way to make sense of it. It enables us to compare genomes with reference genomes, find mutations, and comprehend how those mutations relate to patients’ clinical conditions,” according to Vetcheno.
Using the field of oncology as an example, he explained that cancer is a genetic illness brought on by cell mutations and that knowing these abnormalities allows medical professionals to treat patients more precisely.
“You can more effectively target the disease with the appropriate treatment if you can recognize the trigger and comprehend the mutation behind a malignancy. This lowers wasteful testing, wasted time, and treatment costs overall,” according to Vetchenou.
He emphasized the need to increase access to cutting-edge medical technologies in Nigeria and asked policymakers and healthcare stakeholders to adopt contemporary healthcare policies that are already working in other areas of the world.
