Following their recent investment from Buko Ventures, InterLeukin aims to offer a more streamlined supply chain management platform for healthcare institutions.
We are excited to announce our investment in InterLeukin, a b2b e-commerce platform for the healthcare industry in the Philippines.
InterLeukin’s mission is to build an e-commerce platform that makes it easy for hospitals, labs and healthcare providers to buy the supplies they need to serve Filipinos in need of healthcare. InterLeukin’s platform enables buyers to purchase the supplies they need at affordable price points, with wide assortment and consistent stock levels, and with an efficient purchase and fulfillment process.
The Philippines spends $18bn per year on healthcare services with the industry growing over 10% annually, but most of the industry still follows very traditional procurement processes for the supplies they need. Suppliers and distributors often build preferential relationships with hospital buyers, which means that hospitals often don’t get optimal prices and end up overspending. Additionally, keeping supplies in stock is often a challenge with existing distribution channels sometimes running out of supplies for extended periods. If hospitals try to run more competitive bidding processes for procurement, they struggle with extra paperwork and delays to make decisions and execute purchases. All of this is exacerbated for smaller and provincial hospitals that are harder to reach and less profitable to serve for the traditional healthcare distributors.
InterLeukin’s technology and platform can help hospitals and healthcare providers to purchase supplies more efficiently and ultimately help the Philippines healthcare industry serve more patients more effectively.
InterLeukin’s founders are well positioned to build the company with extensive experience in the Philippines healthcare industry. The founder and CEO Laila Marquez has worked in healthcare in the Philippines for over 10 years, most recently in sales for Becton Dickinson (BD), a $70bn global medical technology company, and previously as a laboratory scientist at the Research Institute for Tropical Medicine (RITM) in the Philippines. Chief Business Development Officer Ki-Young Lee and Chief Operating Officer Mohammad Johnson Nawang also bring strong international healthcare industry experience to the team from South Korea and the Middle East, respectively.
The team has already built impressive technology to serve the healthcare industry with features customized for the needs of the healthcare industry such as tools for real-time product price negotiations, customizable delivery and payment terms, purchase order generation and approvals, product sample requests, orders tracking, multiple payment options, forecasting analytics, and much more. They already have thousands of healthcare items available on the platform and are working with some of the largest universities and laboratories in the Philippines as early customers.
We are excited to support InterLeukin in building a powerful e-commerce platform for the Philippines healthcare industry. If you work in the healthcare industry and would like to explore a more seamless e-commerce type experience for your healthcare procurement needs, check out InterLeukin.