Combining data, smart logistics, and technology to deliver life-saving medical products
Team Leader
Temie Giwa-Tubosun
LifeBank powers hospitals and care centers to deliver quality healthcare to patients in emerging markets. The company's technology, marketplace, and distribution networks enable hospitals in emerging markets to catch up with their global peers
Hear the Pitch
The Problem
Every year in African hospitals, thousands of people die because essential medical supplies could not be found on time and in the right condition. In Nigeria, the unavailability of blood is a major contributor to this issue.
Nigeria’s blood shortage results from a combination of supply and logistics issues. Not enough Nigerians donate blood. When blood is available, there is limited information about its quantity, type, and quality; and it is often transported without proper cold chain refrigeration, leaving it vulnerable to bacterial proliferation.
The Solution
By combining data, smart logistics, and technology, LifeBank more efficiently links blood suppliers with hospitals and health centers—reducing inventory waste, increasing timeliness of blood delivery to patients, while maintaining quality control standards.
LifeBank’s donor app makes it easy for people to donate blood, and it is currently the largest known digital database of voluntary blood donors in Nigeria. Once requested, LifeBank’s smart logistics system delivers blood to hospitals in less than 45 minutes in a WHO Blood Transfusion Safety compliant cold chain, so it arrives in the right condition.
LifeBank has also developed a blockchain-powered product, SmartBag, that records and preserves manufacturing, supply, and safety information of cold chain-dependent medical products like blood.
Market Opportunity
Nigeria’s estimated blood demand is 1.8 million pints annually.
3.2 million Nigerians are infected with HIV, and 14 percent of newly infected people contract the disease from bad blood transfusions.
LifeBank currently sells to 240 public and private health centers, and has operations in Lagos and Abuja, with plans to expand to two other regions of the country in 2019 which comprise the majority of Nigeria’s 23,640 public and private health centers.
Few solutions address blood shortages in sub-Saharan Africa; by targeting both logistics and supply, LifeBank’s solution is proactive and sustainable.
LifeBank’s major funders have been Co-Creation Hub, an innovation center in Lagos, and Echo VC, a local venture capital firm. Additional partners include:
Lagos State Blood Transfusion Service
Lagos University Teaching Hospital
Lagos State University Teaching Hospital
Organization Goals
LifeBank will continue to expand its capabilities to safely supply critical medical products beyond blood, like oxygen and vaccines. To continue to scale, LifeBank will:
Generate revenue from logistics fees on a sliding scale that averages $8 per unit of blood
Garner sales from their SmartBag Tag, an essential medical product integrity solution
Implement subscription fees for an inventory management application
Effect service fees for digitizing donor records of health ministries
Partnership Goals
To reach the goals mentioned above, LifeBank seeks partnerships to:
Expand its product suite to include oxygen and vaccines
Improve AI platform to better predict medical needs
Partner with pharmaceutical companies to pilot the use their SmartBag innovation to store manufacturing, distribution and safety information of cold chain dependent medicines
What is the name of your organization?
LifeBank
What is the name of your solution?
LifeBank
Provide a one-line summary or tagline for your solution.
LifeBank powers hospitals and care centers to deliver quality healthcare to patients in emerging markets. The company's technology, marketplace, and distribution networks enable hospitals in emerging markets to catch up with their global peers
In what city, town, or region is your solution team headquartered?
Lagos
In what country is your solution team headquartered?
Nigeria
What type of organization is your solution team?
For-Profit
Film your elevator pitch.
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What specific problem are you solving?
Every year in African hospitals, thousands of people die because essential medical supplies could not be found on time and in the right condition. In Nigeria, the unavailability of blood is a major contributor to this issue. Example, Nigeria's blood shortage results from a combination of supply and logistics.
What is your solution?
IF LifeBank innovates to improve the safety (SmartBank, Quip) and accessibility (Nerve, OneSystem, MEDI) of all medical supplies through its platform.
AND LifeBank guarantees affordability by helping health facilities manage their liquidity and deploying a cross subsidizing model for impact health facilities.
AND LifeBank ensures healthcare professionals are skilled, motivated, and have the tools they need to deliver quality care.
THEN we will strengthen the quality of healthcare that healthcare centers deliver to children, women, and vulnerable populations.
ULTIMATELY, this will contribute to a robust, resilient health system for all.
Who does your solution serve, and in what ways will the solution impact their lives?
Our solution serves the Health Centres, the health centres in turn secures good health outcomes for the patients.
Stats
LifeBank has saved over 3,500 lives, delivered over 13,000 pints of blood to rural communities in Nigeria, and served over 340 hospitals.
