Hayato Healthcare announced the launch of their healthcare financing services with its first regional office in the UAE. A start-up business, Hayati provides loans for elective and non-elective medical procedures which medical insurance companies do not cover.
This business was a finalist in the prestigious Harvard Business School Business Plan Competition and winner of the Pan-Arab MIT Business Plan Competition. Hayati Healthcare is one of the first companies to be funded by the Arab Business Angels Network, a member of Dubai International Capital, and the Gulf Finance Corporation.
Link to the article:
This business model was a finalist in Harvard and MIT business plan competitions?
Note to all investors, angels or otherwise: healthcare expenses are a leading cause of bankruptcies, personal and corporate.
In the article the principals state:
“…by investing in a pioneering web-portal, which is a first for this region, ensuring a highly efficient and user friendly customer experience.”
Where have we heard this before?
In my opinion, this business model shows a fundamental lack of understanding of healthcare and healthcare finance. And shariah compliance? At 15% interest per annum, even I don’t think so.
So is this a credit agency financing cosmetic surgeries for the middle class? Or is it a viable financing mechanism for unexpected, high cost medical procedures?
Yes, and no…………HK