Why We Invested: Clivi
In Mexico, 12.4 million people suffer from diabetes. This chronic disease has severe consequences, including lower life expectancy, increased mortality rates, and costly healthcare expenditures. Furthermore, diabetes disproportionately affects middle and lower socioeconomic levels of the population, exacerbating the challenges they face due to limited resources and access to quality care.
While there are existing solutions for diabetes care, reaching and serving the middle and lower socioeconomic segments effectively has been a persistent challenge. Access to private healthcare is scarce and costly, while public health systems are overcrowded and inconvenient, leaving a significant portion of the population needing adequate treatment. The key to success lies in understanding the specific needs of these vulnerable segments and providing a comprehensive solution that guides patients through every step of their diabetes management journey.
In 2021, we were introduced to Clivi through an internal contact. Clivi, a Mexican healthtech company, is revolutionizing the chronic disease care journey with a focus on diabetes. The company has developed a SaaS platform that offers human-centric and empathetic care for millions of Mexicans living with diabetes.
Their platform encompasses telemedicine, backed by diabetes-oriented doctors and experts, and ongoing care through live chat, including glucose and weight monitoring, educational content, online prescriptions, emergency checkups, motivation for making healthier lifestyle choices, and comprehensive treatment. By engaging patients and providing them with convenient access to doctors and resources, Clivi aims to improve patient quality of life.
What sets Clivi apart is its tailored approach to the Latin American market. The company understands the importance of holistic solutions and has built a product that addresses multiple aspects of diabetes care. Particularly, Clivi is distinguished by providing daily care and attention to their patients through multiple user-friendly tools, supplies, and accessible channels. Patients pay a monthly subscription that gives them access to a team of diabetes specialists and a virtual WhatsApp assistant that helps patients with scheduling appointments, live feedback, and more.
Clivi is also focusing on two B2B2/C approaches to drive revenue growth. Firstly, they aim to sell their diabetes management solution to corporate HR departments and create partnerships with employee benefit companies to expand their reach. Secondly, Clivi is partnering with large insurance providers to serve as their monitoring software for diabetes patients, making Clivi a mandatory tool for those seeking insurance coverage. Both strategies position Clivi for promising prospects in the B2B market.
Moreover, Clivi's experienced team, with a proven track record in the healthtech space, ensures that the solution is well-suited to the region's specific needs. CEO Ricardo Moguel helped build Doctoralia in LatAm from scratch, turning them into the number one marketplace for doctors. Secondly, CTO Kyle Jernigan had stints at GE Energy, led ParkNow as CTO, and held senior executive roles at Capital One. Finally, COO Bruno Garza is experienced in healthcare, coming from Doctoralia as well, where he met Moguel and helped launch the company’s operations in different geographies in the LatAm market, making the company the number one doctor marketplace in those regions.
FEMSA holds a strategic position in the healthcare industry through our portfolio of pharmacies across LatAm. This established infrastructure provides a unique opportunity to enhance the healthcare experience for Clivi users. Most importantly, FEMSA stands to learn how a digital ecosystem can be built in the healthcare space and how we can engage with its users.
The market opportunity and Clivi's innovative approach to diabetes care align perfectly with our mission to make a positive impact on society by satisfying the consumer’s health necessities in an efficient way, with quality products and at a fair price. With Clivi's visionary team and comprehensive digital solution, we believe in the immense potential to reshape the chronic disease care journey and empower patients to lead healthier lives.