June 21, 2024

By Riley Kaminer

Miami-based Osigu is on a mission to inject tech-powered efficiencies into the pen-and-paper dominated healthcare market in Latin America. A year after we last spoke to the Osigu team, they now have even more data to show the tangible impact they are having in the LatAm healthcare market.

“Last year we processed 1.5 million transitions,” founder and CEO Fernando Botrán told Refresh Miami. In dollar figures, those transactions represent a Gross Merchandise Value of $650 million. Between 2022 and 2023, their ARR grew 6.4x – with more than 65 institutional healthcare clients. Three of the company’s 177 employees are based in South Florida.

International expansion has played a major role in this growth. Botrán said the company’s acquisition of Colombian Electronic Health Record (EHR) giant Servinte validated its hypothesis of M&A as a path toward growth. 

“So far, we have seen very good results,” Botrán said of the Servinte acquisition. “Our expansion to Colombia a year ago was a pivotal moment for the company. After establishing ourselves there, we started seeing other opportunities, not only in Colombia but across the region.”

Osigu increasingly has its sights set on Brazil, a market that is three times the size of Colombia. Since Q3 of last year, the company has been starting to embed itself into that market, recently inking a deal with Salux Technology, a large Brazilian EHR, to integrate Osigu’s revenue cycle management and claims management solutions.

Botrán explained that Osigu’s expansion strategy is twofold: bottom-up, starting with healthcare providers, and top-down, working with insurance companies. This dual strategy ensures comprehensive connectivity and streamlined processes between payers and providers.

Next up for Osigu is to start integrating payment solutions. “We have spent many years building a robust medical transaction infrastructure within the healthcare system by connecting payers and providers – positioning us to enable various financial institutions to introduce payments and other financial services to the healthcare sector,” Botrán noted. 

“Previously, this was not possible due to the lack of adequate infrastructure. We are addressing this issue from the ground up, ensuring that once our infrastructure is in place, we can facilitate financial institutions in providing these essential services.”

Since the early days of Osigu around eight years ago, the company has been keen to integrate financial services into the healthcare ecosystem. But according to Botrán, “We realized that before we could implement these services, we needed to solve the fundamental problem of connectivity and infrastructure.”

Botrán signaled that we can expect to see news soon about some exciting partnerships with major players in the payments space. Also coming across the wires soon is news about Osigu’s Series B, which will be announced in a few month’s time.

“I love this city, we’re very happy here,” said Botrán of having Osigu’s home base in Miami. “Our connectivity to Latin America and the presence of U.S. investors have been crucial to Osigu’s success. A lot of the things we achieved, I don’t know if we could have achieved if we were not here.”

Osigu recently inked a deal with Salux Technology, a large Brazilian EHR, to integrate Osigu’s revenue cycle management and claims management solutions. Shown here, from lef: Fabricio Avini, Founder of Salux; Osigu founder and CEO Fernando Botrán (also shown at top of post); Murilo Fernandes, CEO of Salux.

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